Greenfield Villas Multifamily Investment Property

15860 Joy Rd, Detroit, MI 48228

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For Sale

$3,999,950

Sixty-unit multifamily property in Detroit's Oakman Boulevard neighborhood.

Type:Investment

Lot size:

1.72 Acres

We can help!

Contact an agent

Lauryn Johnson

HighLights

100% Occupancy with Section 8 Tenants ensures immediate and consistent rental income.
Recently Remodeled: Substantial upgrades minimize maintenance costs and attract tenants.
Newer Heating System and Brand New Plumbing reduces potential for costly repairs and ensures reliable operation.
New Roof, Windows, Gutters, and Trim enhances curb appeal and protects the property from the elements.
High Cash‑on‑Cash Return: Complex maintains just under 20% cash on cash.
Located Near Historic Dearborn: Proximity to a desirable city offers potential for long‑term tenant demand.

For Sale

$3,999,950

Sixty-unit multifamily property in Detroit's Oakman Boulevard neighborhood.

Type:Investment

Lot size:

1.72 Acres

Added:: Mar 10, 2026
Days on Market:: 120
Last Refresh:: Jul 2 at 7:02 am

Property Features for 15860 Joy Rd

General Information

Standard status: Active
Lot size: 1.72 Acres
Property subtype: Investment

Building Details

Year Built: 1951

We can help!

Contact an agent

Lauryn Johnson

Listing office KW Domain Birmingham

Listing date Mar 10, 2026

Source Elliman

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 KW Domain Birmingham

HighLights

100% Occupancy with Section 8 Tenants ensures immediate and consistent rental income.
Recently Remodeled: Substantial upgrades minimize maintenance costs and attract tenants.
Newer Heating System and Brand New Plumbing reduces potential for costly repairs and ensures reliable operation.
New Roof, Windows, Gutters, and Trim enhances curb appeal and protects the property from the elements.
High Cash‑on‑Cash Return: Complex maintains just under 20% cash on cash.
Located Near Historic Dearborn: Proximity to a desirable city offers potential for long‑term tenant demand.

Overview

Greenfield Villas is a 60-unit multifamily property situated on a 2-acre lot in the Oakman Boulevard neighborhood of Detroit, located 6 minutes from Dearborn. The property features 36 two-bedroom and 24 one-bedroom apartments. The property has been remodeled, including a 400 square foot roof with high-definition shingles, new windows, gutters, and trim. The property also features a newer heating system and new plumbing. The units have fresh paint and new carpet with underlayment. All units are intended for Section 8 tenants. Tenants are responsible for all utilities, allowing the complex to maintain just under 20% cash on cash.

Property Profile Location Intelligence

Current Use by Public Records

Shcool Craft College High School

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Location Insight

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Local Demand

City: Detroit
County: Wayne
State: Michigan
Longitude: -83.2023
Latitude: 42.3585

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For sale
Apartment buildings
MI
Detroit
48228
15860 Joy Rd

What type of property is this?

Apartment building - Sixty-unit multifamily property in Detroit's Oakman Boulevard neighborhood.

Where is this apartment building located?

The property is located at 15860 Joy Rd Detroit, MI.

What is the asking price?

The asking price for this property is $3,999,950.

What are key features of this property?

This property features: 100% Occupancy with Section 8 Tenants ensures immediate and consistent rental income.; Recently Remodeled: Substantial upgrades minimize maintenance costs and attract tenants.; Newer Heating System and Brand New Plumbing reduces potential for costly repairs and ensures reliable operation.