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    15867 Cherrylawn St Detroit, MI 48238

    Sponsored
    For Sale
    $125,000

    Charming 2-unit brick building, excellent cash flow.

    Property size:
    2,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This well-maintained Detroit duplex, located at 15867 Cherrylawn St, offers a fantastic investment opportunity. Built in 1927, this two-story, 2,000 square foot building sits on a 0.09-acre lot in the desirable west side of the city, within Wayne County, and has a zip code of 48238. The property features two units, each boasting hardwood floors and original plasterwork. Both units are currently occupied by long-term month-to-month tenants, responsible for their own gas, electric, and cable bills. The property is zoned for multi-family use and includes two parking spaces. The asking price is $125,000, translating to $62.50 per square foot. The property's APN is W16I033327S. This turnkey investment presents a solid return with existing tenants in good standing. A land contract option is available. This is an exceptional opportunity for investors seeking a stable, income-generating property in a thriving Detroit neighborhood. The property has been meticulously maintained both inside and out.

    Property Features for 15867 Cherrylawn St

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,000 SF
    Lot Size
    3,920 SF

    Building Details

    Year Built
    1927
    Stories
    2
    Units
    2

    HighLights

    • Well‑maintained Detroit duplex, 2,000 sq ft, on a 0.09‑acre lot.
    • Two units with hardwood floors and original plasterwork, currently occupied by month‑to‑month tenants.
    • Located at 15867 Cherrylawn St, Detroit, MI 48238 (Wayne County), zoned multi‑family.
    • Two parking spaces; asking price $125,000 ($62.50/sq ft); APN W16I033327S.
    • Land contract option available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.154802
    Latitude
    42.4089179

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    FAQs

    What type of property is this?
    Multifamily property - Charming 2-unit brick building, excellent cash flow.
    Where is this multifamily property located?
    The property is located at 15867 Cherrylawn St Detroit, MI.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Well-maintained Detroit duplex, 2,000 sq ft, on a 0.09-acre lot.; Two units with hardwood floors and original plasterwork, currently occupied by month-to-month tenants.; Located at 15867 Cherrylawn St, Detroit, MI 48238 (Wayne County), zoned multi-family.
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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
    15867 Cherrylawn St Detroit, MI 48238
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