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16500 Birwood St Detroit, MI 48221

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For Sale
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High-Yield Detroit Rental Property, 8% Cap Rate

Property size:
10,000 SF

Property Features for 16500 Birwood St

General Information

Property type
Multifamily properties
Square Feet
10,000 SF
Class
C

Building Details

Buildings
12
Units
12

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Listing Contact
Simon Jonna
Simon Jonna

Listing Agency: The Jonna Group at Colliers International Listing Agent: Simon Jonna

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional investment opportunity presents a portfolio of twelve fully renovated single-family homes in desirable Detroit, Michigan neighborhoods. The portfolio boasts a total of 10,000 square feet, with each unit meticulously updated, featuring modern kitchens and bathrooms. The properties are spread across various locations within the city, offering diversification and minimizing risk. Currently generating a strong net operating income (NOI) of $139,256, this portfolio commands an attractive 8.00% capitalization rate and an asking price of $1,740,000, or $145,000 per unit, and $174 per square foot. The properties are held in fee simple ownership, providing complete control and flexibility. This is an ideal investment for those seeking substantial rental income and potential appreciation in a thriving market. The portfolio's Class C designation reflects its solid, income-producing nature. Experienced property management is available, ensuring hassle-free ownership and maximizing returns. This turnkey investment offers a compelling opportunity to capitalize on the Detroit real estate market's growth. The portfolio is located in Wayne County, Michigan, with addresses in the 48221 zip code. This is a rare opportunity to acquire a well-maintained, high-performing rental portfolio in a rapidly developing urban area.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Residential income homes

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

Location Insight

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  • Local Demand
City
Detroit
County
Wayne
State
Michigan
Longitude
-83.1642054
Latitude
42.4121914

FAQs

What type of property is this?
Multifamily property - High-Yield Detroit Rental Property, 8% Cap Rate
Where is this multifamily property located?
The property is located at 16500 Birwood St Detroit, MI.
What is the asking price?
The asking price for this property is $1,740,000.
What are key features of this property?
This property features: Twelve fully renovated single-family homes in desirable Detroit, MI neighborhoods.; Portfolio includes diverse locations and unit sizes within Detroit.; Units feature modern kitchens and bathrooms.
(248) 226-1610 Call to check price and availability
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