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    Updated 16-Unit Apartment Complex Title is generated by Realmo AI

    18059 Hoover St, Detroit, MI 48205

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    For Sale
    $1,000,000

    Updated 16-unit apartment complex with strong occupancy and cap rate.

    Type:Investment
    Added:
    Apr 24, 2026
    Days on Market:
    54
    Last Refresh:
    Apr 24 at 3:35 pm

    Property Features for 18059 Hoover St

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1948

    We can help!

    Listing Contact
    Justin Zehel

    Listing agent Justin Zehel License #3598465

    Listing office Eagle Realty LLC d/b/a Keller Williams Eagle Realty

    Listing date Apr 24, 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 Eagle Realty LLC d/b/a Keller Williams Eagle Realty

    HighLights

    • Strong 12% Cap Rate
    • 16 Units, all one‑bedroom, one‑bath
    • Extensively Updated: new plumbing, updated electrical, newer windows, brand‑new furnaces
    • Renovated Units featuring updated kitchens and baths, new flooring, fresh paint, stainless steel appliances
    • 90%+ Occupancy
    • Tenants pay gas and electric

    Overview

    This 16-unit apartment complex features all one-bedroom, one-bath units. The property has been extensively updated with new plumbing, updated electrical systems, and newer windows. Brand-new furnaces have been installed. Half of the units have electric baseboard heat, while the others have individual furnaces. Tenants are responsible for gas and electric utilities, contributing to low operating costs. The units have been renovated with updated kitchens and baths, new flooring, fresh paint, and stainless steel appliances. The property is 90%+ occupied and generating a 12% cap rate. The property has completed Step 1 of the Pilot Program, with the seller working toward full approval with two steps remaining.
    Location Intelligence

    Current Use by Public Records

    Goldie's spot Barber Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0047854
    Latitude
    42.4281025

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    FAQs

    What type of property is this?
    Apartment building - Updated 16-unit apartment complex with strong occupancy and cap rate.
    Where is this apartment building located?
    The property is located at 18059 Hoover St Detroit, MI.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Strong 12% Cap Rate; 16 Units, all one‑bedroom, one‑bath; Extensively Updated: new plumbing, updated electrical, newer windows, brand‑new furnaces
    (248) 979-3466
    We can help!
    Listing Contact
    Justin Zehel
    Real Estate License ID: 3598465
    Learn More
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