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    16 Mile Rd Harrison Township, MI 48035

    Sponsored
    For Sale
    $399,000

    20-unit apartment complex, prime location

    Property size:
    19,460 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a proposed 20-unit apartment complex development situated on a 1.925-acre lot in desirable Harrison Township, Michigan (48035), conveniently located near Union Lake Rd & 16 Mile Rd. The property boasts a total of 19,460 square feet and includes two buildings. Building A comprises 8 units (4 one-bedroom and 4 two-bedroom apartments), while Building B offers 12 units (4 one-bedroom and 8 two-bedroom apartments). The development is complete with 45 parking spaces, water, sanitary, and storm infrastructure, an entryway, deceleration lane, and retention pond. Site improvements, including a bypass, are finished. The property is zoned within the L'Anse Creuse School District, offering convenient proximity to Macomb Community College and Metro Beach. This Class A multifamily property is available immediately and is priced at $399,000, representing a price per unit of $24,950. Annual property taxes are $4,000. The lot dimensions are approximately 85 feet by 995 feet. This is a turnkey opportunity for immediate income generation.

    Property Features for 16 Mile Rd

    General Information

    Property type
    Multifamily properties
    Square Feet
    19,460 SF
    Class
    A
    Lot Size
    83,853 SF

    Building Details

    Buildings
    2
    Units
    20

    HighLights

    • Proposed apartment complex development.
    • 20‑unit apartment complex.
    • Building A: 8 units (4 one‑bedroom, 4 two‑bedroom).
    • Building B: 12 units (4 one‑bedroom, 8 two‑bedroom).
    • Water, sewer, and storm drainage infrastructure in place.
    • Building entryway and deceleration lane provided.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Harrison Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8644238
    Latitude
    42.5569561

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    FAQs

    What type of property is this?
    Multifamily property - 20-unit apartment complex, prime location
    Where is this multifamily property located?
    The property is located at 16 Mile Rd Harrison Township, MI.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Proposed apartment complex development.; 20-unit apartment complex.; Building A: 8 units (4 one-bedroom, 4 two-bedroom).
    Request Owner's contact information
    16 Mile Rd Harrison Township, MI 48035
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    Harrison Township, MI 48035
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    16 Mile Rd Harrison Township, MI 48035
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