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Apartment Building With Updated Units

16701 Greenfield Rd, Detroit, MI 48235

For Sale
$384,000

Professionally managed multifamily property with refreshed interiors in many units and updated kitchen finishes.

Property Size10,950 SF
Days on Market102

Property Features for 16701 Greenfield Rd

General Information

Standard status Active
Size 10,950 SF
Property subtype Investment

Site & Location

Neighborhood Crary/St Marys

Taxes and HOA fees

Annual Taxes $40,285

Building Details

Building Size 10,950 SF
Year Built 1954
Units 12
Listing Agency: Keller Williams Legacy
Listed By: Omar Ghazzawi · License MI #6501370114
Source: Elliman
Added: Aug 1 Changed: Nov 8 Last Checked: Nov 10 at 7:26AM

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 Keller Williams Legacy

Rey
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Investment Insights

Based on property information with market context.

This 1954 apartment building at 16701 Greenfield Rd in Detroit includes refreshed interiors in many units, with new vinyl flooring and kitchen improvements. The property is professionally managed, and the boiler and hot water tanks are identified as being in great shape.

The location records a Walk Score of 50, a Transit Score of 50, and a BikeScore of 34, indicating car-dependent access with some available transit and bike connectivity. The property is situated in the Greenfield and W McNichols community.

Key Highlights

  • Many units feature new vinyl floors and kitchen improvements
  • Professionally managed apartment property
  • Boiler and hot water tanks reported in great shape

Property Analytics

Who owns this building? See the owner, sales and loan history
Open Analytics

Location Intelligence

Trade Area within ½ mile

499
Businesses Nearby

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
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Market

Average Price Trend$/SF for Apartment buildings in Detroit, MI

$140 Jul
$147 Aug
$118 Sep
$125 Oct

Properties on Market for Apartment buildings in Detroit

Jul
Aug
Sep
Oct

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025

Frequently Asked Questions

What type of property is this?
Apartment building - Professionally managed multifamily property with refreshed interiors in many units and updated kitchen finishes.
Where is this apartment building located?
The property is located at 16701 Greenfield Rd Detroit, MI.
What is the asking price?
The asking price for this property is $384,000.
What are key features of this property?
This property features: Many units feature new vinyl floors and kitchen improvements; Professionally managed apartment property; Boiler and hot water tanks reported in great shape
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