Six-Building Apartment
14299 Fordham Street, Detroit, MI 48205
For Sale
$2,999,999
Multifamily, 3 Story, Detroit, MI
Property Size10,310 SF
Lot Size0.09 Acres
Price / SF$290.98
Days on Market153
Property Features for 14299 Fordham Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Pets allowed
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Architectural style
Buildings
Listing Agency:
EXP Realty Main
(888) 501-7085
Listed By:
John Goci · License MI #6501389885
(734) 637-1430
Added: Jun 11
Changed: Oct 25
Last Checked: Nov 10 at 1:06AM
MLS# 20261044149
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This portfolio includes six apartment properties offered together in a single transaction. The Fordham Street building is fully renovated and occupied as a single-room rental property with 62 rentable beds. The Glenwood Street asset is a 20-unit apartment building that is approximately 50% rehabilitated, with rough electrical and plumbing work completed and approved. Four additional buildings contain 30, 20, 18, and 18 units, respectively; each has a brick exterior and has been cleaned out, boarded, secured, and dried-in.
The portfolio properties are located at 14299 Fordham Street, 14296 Glenwood Street, 18036 Schoenherr Street, 18055 Schoenherr Street, 18029 Schoenherr Street, and 10820 Schoolcraft Road in Detroit. The Fordham building contains 10,310 square feet on a 0.09-acre lot, was built in 1928, and has forced-air heating, brick construction, and public water service. Proof of funds is required before showings, and drive-by review is requested before scheduling an interior tour.
The portfolio properties are located at 14299 Fordham Street, 14296 Glenwood Street, 18036 Schoenherr Street, 18055 Schoenherr Street, 18029 Schoenherr Street, and 10820 Schoolcraft Road in Detroit. The Fordham building contains 10,310 square feet on a 0.09-acre lot, was built in 1928, and has forced-air heating, brick construction, and public water service. Proof of funds is required before showings, and drive-by review is requested before scheduling an interior tour.
Key Highlights
- Six apartment properties offered together as one portfolio sale
- 14299 Fordham Street is fully renovated, occupied, and configured for 62 rentable beds
- 14296 Glenwood Street is a 20‑unit building approximately 50% rehabilitated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,159
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,163,180
$2.2M
Cap Rate 7%
$1,545,129
$1.5M
Cap Rate 9%
$1,201,767
$1.2M
Market Conditions
NOI Build-Up for 10,310 SF
Gross rent
$210.3K $20.40/SF
− Vacancy
−$13.7K −$1.33/SF
EGI
$196.7K $19.07/SF
− OpEx
−$88.5K −$8.58/SF
NOI
$108.2K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,163,180
Cap Rate 7%
$1,545,129
Cap Rate 9%
$1,201,767
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.35M – $1.80M
NOI $108,159 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.27M
$1.99M – $2.65M
NOI $159,210 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
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Demographics for 48205, MI
34,056
Population
17,102
Households
2
Avg Household Size
32
Median Age
9%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
5,321
Density / Sq Mi
$40,612
Median Household Income
$30,833
Median Earnings
$1,149
Median Rent
$55,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Detroit, MI
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Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Portfolio combines an occupied room-rental property with five multifamily buildings at varying stages of rehabilitation and security.
Where is this apartment building located?
The property is located at 14299 Fordham Street Detroit, MI.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: Six apartment properties offered together as one portfolio sale; 14299 Fordham Street is fully renovated, occupied, and configured for 62 rentable beds; 14296 Glenwood Street is a 20‑unit building approximately 50% rehabilitated
