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    16500 Birwood St Detroit, MI 48221

    Sponsored
    For Sale
    $1,740,000

    High-Yield Detroit Rental Property, 8% Cap Rate

    Property size:
    10,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    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 Features for 16500 Birwood St

    General Information

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

    Building Details

    Buildings
    12
    Units
    12

    HighLights

    • 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.
    • Strong potential for rental income and appreciation in a growing market.
    • Experienced property management available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    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
    -83.1642054
    Latitude
    42.4121914

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    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
    Request Owner's contact information
    16500 Birwood St Detroit, MI 48221
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    Detroit, MI 48221
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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
    16500 Birwood St Detroit, MI 48221
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