Sixty-Unit Multifamily
For Sale
Contact for pricing
Pending
15860 joy road, Detroit, MI 48228
Sixty-unit multifamily property in Detroit's Oakman Boulevard neighborhood.
Property Size48,336 SF
Lot Size2.00 Acres
Days on Market294
Property Features for 15860 joy road
General Information
Standard status
Pending
Size
48,336 SF
Lot size
2.00 Acres
Property subtype
Multifamily
Occupancy
100%
Building Details
Year Renovated
2025
Buildings
9
Stories
2
Units
60
Listing Agency:
KW Domain
(248) 207-2994
Listed By:
Lauryn Johnson · License #6501462908
Source:
Crexi
Added: Nov 2, 2025
Changed: Aug 15
Last Checked: Aug 20 at 12:54AM
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
Investment Insights
Based on property information with market context.
Located six minutes from Dearborn, this 60-unit multifamily property is situated on a 2-acre lot in the Oakman Boulevard neighborhood. The property features 36 two-bedroom and 24 one-bedroom apartments. The building has been recently remodeled, including a 400 square foot roof with high-definition shingles. Electrical systems have been upgraded in each unit. The property also features new windows, gutters, and trim. A newer heating system and new plumbing have been installed. Fresh paint and new carpet with underlayment have been added. All units are rented to Section 8 tenants, with monthly payments received from the federal government. Tenants are responsible for all utilities, allowing the complex to maintain cash flow.
Key Highlights
- All units rented to Section 8 tenants, ensuring a consistent and reliable income stream.
- Generates approximately $50,000 per month in rental income.
- Recent remodeling includes a new 40‑year roof, new windows, new gutters, new trim, new electrical systems, and new plumbing.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Explore this area
Business Placement
Demographics for 48228, MI
53,893
Population
22,620
Households
2.4
Avg Household Size
31
Median Age
11%
College-Educated
78%
High-School Grad
8.9 sq mi
ZIP Area
6,055
Density / Sq Mi
$31,485
Median Household Income
$27,533
Median Earnings
$1,086
Median Rent
$55,100
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 - Sixty-unit multifamily property in Detroit's Oakman Boulevard neighborhood.
Where is this apartment building located?
The property is located at 15860 joy road Detroit, MI.
What is the asking price?
The asking price for this property is $4,450,000.
What are key features of this property?
This property features: All units rented to Section 8 tenants, ensuring a consistent and reliable income stream.; Generates approximately $50,000 per month in rental income.; Recent remodeling includes a new 40‑year roof, new windows, new gutters, new trim, new electrical systems, and new plumbing.
