16500 Birwood St Detroit, MI 48221
- Residential income homes
- 10,000 SF
Current Use by Public Records
- Residential income homes
Property Details for 16500 Birwood St
- Property size
- 10,000 SF
- Property type
- Residential income homes
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1642054
- Latitude
- 42.4121914
