Turnkey Multifamily Opportunity in
18250 Weaver St, Detroit, MI 48228
Remodeled 40-unit Detroit multifamily property with high cap rate potential.
Type:Multifamily
Property size:
19,557 SFPrice / SF:
$135/SF- Added:
- Oct 1, 2025
- Days on Market:
- 235
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 18250 Weaver St
General Information
- Standard status
- Active
- Size
- 19,557 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1969
Listing agent Lila Mircholi License #6501433642
Listing office Golden Key Group
Listing date Oct 1, 2025
Source Crexi
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 Golden Key Group
HighLights
- Turnkey 40‑unit multifamily asset in a prime Detroit location.
- Potential 12–14% cap rate upon stabilization.
- Fully remodeled with modernized units, updated mechanicals, and refreshed common areas.
- Projected annual revenue of approximately $480,000.
- 100% occupied.
- Located minutes from major shopping districts and adjacent to Dearborn Heights.
Overview
This fully remodeled 40-unit multifamily asset is located in Detroit, near major shopping districts and adjacent to Dearborn Heights. The property has been modernized with updated units, mechanicals, and refreshed common areas. The property is currently 100% occupied. With projected annual revenue of approximately $480,000, this property offers investors a potential 12–14% cap rate upon stabilization. The property size is 19557 square feet. This property presents an opportunity for long-term wealth creation through lease-up and management.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$2.62M
NOI $235,383 @ 9.00% cap · cautious / downside scenario
Moderate
$3.36M
NOI $235,383 @ 7.00% cap · market / base-case scenario
Aggressive
$4.71M
NOI $235,383 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $455.3k | $23.28 |
| − Vacancy | −$27.3k | −$1.40 |
| EGI | $428.0k | $21.88 |
| − OpEx | −$192.6k | −$9.85 |
| NOI | $235.4k | $12.04 |
19,557 SF · lease $23.28/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$3.36M
$2.94M – $3.92M
NOI $235,383 @ 7.0% cap · market cap 8.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.02M
$3.51M – $4.69M
NOI $281,185 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.2188423
- Latitude
- 42.3679217
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Remodeled 40-unit Detroit multifamily property with high cap rate potential.
Where is this apartment building located?
The property is located at 18250 Weaver St Detroit, MI.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Turnkey 40‑unit multifamily asset in a prime Detroit location.; Potential 12–14% cap rate upon stabilization.; Fully remodeled with modernized units, updated mechanicals, and refreshed common areas.
