Building Details

Building Size 12,910 SF

Year Built 1967

Year Renovated 2024

Units 28

Listing Agency: RE/MAX Team 2000

Listed By: Mike Ayoub · License #6501294452 Show Phone

Source: Elliman

Added: Oct 7 Last Checked: Oct 7 at 1:57PM

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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 RE/MAX Team 2000

Investment Insights

Based on property information with market context.

This Detroit apartment building was completely renovated in 2024, and a new roof was installed in 2019. The property currently reports an approximately 7% cap rate and immediate cash flow.

WalkScore is 41, described as car-dependent; BikeScore is 31, described as somewhat bikeable; and TransitScore is 35, described as some transit.

Key Highlights

• Complete renovation finished in 2024
• New roof installed in 2019
• Current cap rate is around 7%

Property Analytics

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Current Use

Louis Apartments Apartment Complex

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Spa & Massage Center Kitchen & Bath Showroom Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

292

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

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - A full renovation completed in 2024 updates the apartment property.

Where is this apartment building located?

The property is located at 20520 Plymouth Rd Detroit, MI.

What is the asking price?

The asking price for this property is $1,450,000.

What are key features of this property?

This property features: Complete renovation finished in 2024; New roof installed in 2019; Current cap rate is around 7%