23835 Fullerton Ave Detroit, MI 48223
- Apartment buildings
- 112,923 SF
- 2.53 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 23835 Fullerton Ave
- Year built
- 1970
- Lot size
- 2.53 lot acres
- Property size
- 112,923 SF
- Property type
- Apartment buildings
Description
This exceptional 108-unit apartment complex in Detroit, Michigan, presents a compelling investment opportunity. Located at 23835 Fullerton Ave, this Class B multifamily property boasts 112,923 square feet on a 2.53-acre lot. Built in 1970, the property includes 75 one-bedroom and 33 two-bedroom units, offering a diverse range of living spaces. Recent upgrades include a new boiler/furnace, new windows, and new exterior lighting, enhancing energy efficiency and curb appeal. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $394,539 and a 7.20% cap rate. The complex features a courtyard and is conveniently located for easy freeway access. This well-maintained property, with its professional landscaping, offers a significant return on investment in a thriving Detroit market. The asking price is $4,990,000. This is a rare opportunity to acquire a substantial multifamily asset with proven income and significant upside potential.
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
- -83.2747
- Latitude
- 42.3798
