Eight-Unit Apartment
For Sale
$399,000
15080 Greenfield Rd, Detroit, MI 48227
Five units are currently occupied while three are available, offering immediate rental income and room for lease-up.
Property Size7,080 SF
Days on Market49
Property Features for 15080 Greenfield Rd
General Information
Standard status
Active
Size
7,080 SF
Property subtype
Investment
Occupancy
63%
Additional Details
Highway Access
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$22,548
Building Details
Building Size
7,080 SF
Year Built
1962
Units
8
Listing Agency:
Real Broker LLC
(202) 436-2387
Listed By:
Kyrah Willis
(202) 436-2387
Source:
Elliman
Added: Jul 4
Changed: Aug 17
Last Checked: Aug 20 at 10:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker LLC
Investment Insights
Based on property information with market context.
This eight-unit apartment building is configured as individual rental units within a single property. At the time of listing, five of the eight units are occupied, including tenants under Section 8, and three units are vacant. The current occupancy mix supports income generation from day one while the available units provide an opportunity for lease-up.
Located at 15080 Greenfield Rd in Detroit, MI 48227, the property is described as having convenient access to major freeways, shopping, dining, public transportation, and employment centers. The provided walk, bike, and transit indicators show a car-dependent pattern (Walk Score 50, Bike Score 34, Transit Score 50), which may align well with tenants who rely primarily on driving for day-to-day needs.
For investors seeking a multifamily acquisition, this building offers a straightforward operating profile with partial occupancy already in place and a defined path to increase stabilized revenue through filling the three vacant units. The Section 8 occupancy noted in the current mix may also be relevant for operators evaluating tenant sourcing and lease-up timelines.
Located at 15080 Greenfield Rd in Detroit, MI 48227, the property is described as having convenient access to major freeways, shopping, dining, public transportation, and employment centers. The provided walk, bike, and transit indicators show a car-dependent pattern (Walk Score 50, Bike Score 34, Transit Score 50), which may align well with tenants who rely primarily on driving for day-to-day needs.
For investors seeking a multifamily acquisition, this building offers a straightforward operating profile with partial occupancy already in place and a defined path to increase stabilized revenue through filling the three vacant units. The Section 8 occupancy noted in the current mix may also be relevant for operators evaluating tenant sourcing and lease-up timelines.
Key Highlights
- 8‑unit apartment building built in 1962
- Five units currently occupied and three units available for lease‑up
- Occupied units include Section 8 tenants
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
62.5%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 48227, MI
40,266
Population
19,933
Households
2
Avg Household Size
36
Median Age
12%
College-Educated
83%
High-School Grad
7.5 sq mi
ZIP Area
5,369
Density / Sq Mi
$36,221
Median Household Income
$31,797
Median Earnings
$1,034
Median Rent
$70,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five units are currently occupied while three are available, offering immediate rental income and room for lease-up.
Where is this apartment building located?
The property is located at 15080 Greenfield Rd Detroit, MI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 8‑unit apartment building built in 1962; Five units currently occupied and three units available for lease‑up; Occupied units include Section 8 tenants
