Detroit Apartment Community For
23740 Fenkell Ave, Detroit, MI 48223
Well-maintained, 138-unit apartment community in Detroit with strong cash flow.
Type:Multifamily
Property size:
67,608 SFPrice / SF:
$103/SF- Added:
- Jan 29, 2026
- Days on Market:
- 114
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 23740 Fenkell Ave
General Information
- Standard status
- Active
- Size
- 67,608 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1967
Listing agent Justin Zehel License #3598465
Listing office Keller Williams Eagle Realty
Listing date Jan 29, 2026
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 Keller Williams Eagle Realty
HighLights
- Strong In‑Place Cash Flow: 98% occupied and operates at a 10% cap rate.
- Value‑Add Opportunity: Potential for increased revenue through modest rent increases.
- Turnkey Investment: Well‑maintained major systems (boilers, new flat roof) require no immediate capital expenditures.
- Updated Units and Hallways: Reduces turnover costs and increases tenant appeal.
- Desirable Location: Situated in a highly desirable area of Detroit, just off Telegraph Road on Fenkell Road.
- Secure Community: Gated community with laundry facilities in each building.
Overview
This well-maintained apartment community is located in a desirable area of Detroit, just off Telegraph Road on Fenkell Road. The property consists of three buildings with a total of 138 units. Currently 98% occupied, the property offers strong in-place cash flow. The community is gated and features laundry facilities in each building. Hallways and a majority of units have been updated. Major systems have been well cared for, including boilers in excellent condition and a new flat roof. The property operates at a 10% cap rate with additional upside through modest rent increases. This is a turnkey investment with no immediate capital expenditures required, ideal for both first-time multifamily investors and seasoned buyers looking to expand their portfolio. The property size is 67608 square feet.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.2467
- Latitude
- 42.3934
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained, 138-unit apartment community in Detroit with strong cash flow.
Where is this apartment building located?
The property is located at 23740 Fenkell Ave Detroit, MI.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: Strong In‑Place Cash Flow: 98% occupied and operates at a 10% cap rate.; Value‑Add Opportunity: Potential for increased revenue through modest rent increases.; Turnkey Investment: Well‑maintained major systems (boilers, new flat roof) require no immediate capital expenditures.
