16 Mile Rd Harrison Township, MI 48035
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.