14631 Plymouth Rd Detroit, MI 48227

Property Details for 14631 Plymouth Rd

Property type

Commercial real estate

APN

22I004986C90

Description

This exceptional multifamily investment opportunity comprises three well-maintained apartment buildings totaling 52 units, strategically located in Detroit, MI. The portfolio boasts a current 100% occupancy rate and a strong net operating income (NOI) of $154,945, yielding a 7.50% cap rate. The buildings, consisting of a mix of one and two-bedroom units across three structures (a 27-unit three-story brick building, a 17-unit two-story brick building, and an 8-unit one-story brick building), are situated near major roadways including I-96 and Greenfield Road, offering convenient access to shopping and schools. The current below-market rents present a significant value-add opportunity for an investor to increase profitability through effective property management and rental rate adjustments. The property is offered at $2,065,900, representing a price per unit of $39,728.85. The buildings are zoned for commercial use and offer 15 parking spaces per 1,000 square feet. This fee-simple ownership presents a compelling investment prospect with substantial potential for increased returns. The property's strong cash flow, high occupancy, and below-market rents combine to create a rare opportunity in the Detroit multifamily market. The buildings are well-built and maintained, providing a solid foundation for future growth and profitability.