68-Unit Apartment
For Sale
$3,500,000
16571 Schaefer Hwy, Detroit, MI 48235
68-unit multifamily property offering 1BR and 2BR units with current occupancy of 79%.
Property Size74,800 SF
Price / SF$46.79
Days on Market180
Property Features for 16571 Schaefer Hwy
General Information
Standard status
Active
Size
74,800 SF
Property subtype
Multifamily
Zoning
R2
Occupancy
79%
Additional Details
Business Included
Yes
Multifamily Units
68
Building Details
Building Size
74,800 SF
Listing Agency:
Thomas A. Duke Company
(248) 476-3700
Listed By:
Andrew G Battersby · License #6501384188
Source:
Cpix.resimplifi
Added: Feb 12
Changed: Aug 8
Last Checked: Aug 11 at 4:43AM
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 Thomas A. Duke Company
Investment Insights
Based on property information with market context.
This 68-unit apartment complex includes 60 one-bedroom units and 8 two-bedroom units. The property is currently 79% occupied, offering an established residential income configuration.
The complex is located near the University of Detroit on the west side of Detroit, Michigan. The public remarks reference strong population density in the area.
For buyers seeking a multifamily portfolio-style asset, the unit mix is predominantly 1BR while retaining a smaller allocation of 2BR units.
The complex is located near the University of Detroit on the west side of Detroit, Michigan. The public remarks reference strong population density in the area.
For buyers seeking a multifamily portfolio-style asset, the unit mix is predominantly 1BR while retaining a smaller allocation of 2BR units.
Key Highlights
- 68‑unit apartment complex near University of Detroit on the west side of Detroit, MI
- Unit mix includes 60 1BR units and 8 2BR units
- Currently 79% occupied
Property Analytics
Property Profile
Current Use
Lease Details
68
Residential units
79%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
Explore this area
Business Placement
Demographics for 48235, MI
45,188
Population
20,946
Households
2.2
Avg Household Size
39
Median Age
15%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
7,288
Density / Sq Mi
$41,011
Median Household Income
$31,545
Median Earnings
$1,151
Median Rent
$79,400
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 - 68-unit multifamily property offering 1BR and 2BR units with current occupancy of 79%.
Where is this apartment building located?
The property is located at 16571 Schaefer Hwy Detroit, MI.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 68‑unit apartment complex near University of Detroit on the west side of Detroit, MI; Unit mix includes 60 1BR units and 8 2BR units; Currently 79% occupied
