5-Unit Brick Apartment
21500 Beaconsfield St, Harper Woods, MI 48080
For Sale
New
$499,000
Five one-bedroom residences span two levels, with separate gas and electric meters for each unit.
Property Size3,791 SF
Days on Market2
Property Features for 21500 Beaconsfield St
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Amenities
shared laundry area
individual storage lockers
Building Details
Building Size
Year Built
Buildings
Units
Construction
Listing Agency:
GHK of Michigan Inc
Listed By:
Randy B Gates
(248) 431-4321
Source:
Elliman
Added: Nov 12
Last Checked: Nov 12 at 2:43PM
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 GHK of Michigan Inc
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Investment Insights
Based on property information with market context.
Built in 1973, this all-brick apartment property contains five one-bedroom units of approximately 700 square feet each. Three are on the main floor, with two upstairs; one main-level residence has a separate exterior entrance. Each apartment has a kitchen, walk-in pantry, living room, bedroom, full bathroom, and appliances. Gas and electric service are separately metered by unit.
A shared basement includes laundry facilities, general storage, and a dedicated locker for each apartment. The site also has parking for 10+ vehicles. A roof replacement was completed in 2021, and two furnaces were installed in 2025. Three additional furnaces are included in the sale.
A shared basement includes laundry facilities, general storage, and a dedicated locker for each apartment. The site also has parking for 10+ vehicles. A roof replacement was completed in 2021, and two furnaces were installed in 2025. Three additional furnaces are included in the sale.
Key Highlights
- Five 1‑bedroom apartments, approximately 700 sq. ft. each
- Three units on the main level and two upstairs; one has a private entrance
- Separate gas and electric meters for all five units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,602
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$712,040
$712.0K
Cap Rate 7%
$508,600
$508.6K
Cap Rate 9%
$395,578
$395.6K
Market Conditions
NOI Build-Up for 3,791 SF
Gross rent
$69.6K $18.36/SF
− Vacancy
−$4.9K −$1.29/SF
EGI
$64.7K $17.07/SF
− OpEx
−$29.1K −$7.68/SF
NOI
$35.6K $9.39/SF
Area
Macomb County, MI
Vacancy
7.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$712,040
Cap Rate 7%
$508,600
Cap Rate 9%
$395,578
Alternative Uses
Best Use
Apartment 5plus
$508.6K
$445.0K – $593.4K
NOI $35,602 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$709.7K
$621.0K – $828.0K
NOI $49,682 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
5
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,103
Businesses Nearby
Explore this area
Business Placement
Demographics for 48080, MI
22,272
Population
11,424
Households
1.9
Avg Household Size
44
Median Age
33%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
5,062
Density / Sq Mi
$69,884
Median Household Income
$48,837
Median Earnings
$1,070
Median Rent
$188,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Five one-bedroom residences span two levels, with separate gas and electric meters for each unit.
Where is this apartment building located?
The property is located at 21500 Beaconsfield St Harper Woods, MI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Five 1‑bedroom apartments, approximately 700 sq. ft. each; Three units on the main level and two upstairs; one has a private entrance; Separate gas and electric meters for all five units
