15401 Meyers Rd Detroit, MI 48227
- Commercial real estate
- 1.05 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 15401 Meyers Rd
- Year built
- 1996
- Lot size
- 1.05 lot acres
- Property type
- Commercial real estate
- APN
- 22-020347
Description
This exceptional 15-unit apartment complex, located at 15401-15487 Meyers Rd, Detroit, MI 48227, presents a compelling investment opportunity. The property, built in 1996 and extensively renovated in 2021, sits on a 1.05-acre lot and is zoned R2. The complex comprises 14 duplex units and one freestanding townhome, all featuring attached single-car garages. Recent upgrades include new flooring, garage doors, and countertops, enhancing both aesthetics and functionality. All units are currently occupied, with tenants responsible for all utilities, contributing to strong cash flow. The property's 15 units are priced at $92,667 per unit, totaling an asking price of $1,390,000. The two-story building offers significant potential for increased net operating income (NOI) under new ownership due to below-market rents. This well-maintained property, with its attractive townhome style and desirable amenities, represents a solid investment in a growing Detroit market. The Wayne County location and convenient address provide easy access to local amenities and transportation. The APN is 22-020347. This is a turnkey opportunity for an investor seeking immediate returns and long-term appreciation.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1698418
- Latitude
- 42.4041662
