For Sale $3,816,000
Property Type Multi-Family
Property Size 50,000 SF
Units 53
Date Updated Apr 17, 2024

• Single-Family Residential portfolio comprised of 53 properties

• Stabilized portfolio – 98% occupied; proforma assumes 5% vacancy

• All properties have Certificates of Compliance (CofC's) - $38,500 spent on certification inspection fees in 2021

• Portfolio comprised of seven (7) 4-bedroom homes, thirty-three (33), 3-bedroom homes, thirteen (13) 2-bedroom homes.

• 50 market-rate tenants + 3 Section 8 tenants provide stable income.

• Professionally-managed and well-maintained portfolio

• Proforma 10% third party management fee provides new owner opportunity increase investor/owner profitability (Fee is included in portfolio operating expenses)

• Excellent opportunity for local portfolio investor/manager/owner

• Approximately $556,500 in repairs, maintenance and improvements in 2020-2022

• Many units at below market rents

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Contacts

Eric D. Banks Is this you?

Dominion Real Estate Advisors

(248) 399-9999

Location

Getting Around

Walk Score ®
69/100 Somewhat Walkable
Bike Score ®
47/100 Somewhat Bikeable

City Detroit, MI
Neighborhood Brookside - Burton Hollow
Zip Code 48234
Market Detroit

Points of Interest

CDM Transport LLC

9.58 miles

Mobil

0.98 miles
Kroger

1.02 miles
Speedway

1.02 miles
Sunoco

1.02 miles
Shell

1.03 miles
Shell

1.34 miles
Shell

1.91 miles
Sunoco

1.96 miles
Sunoco

1.98 miles
BP

2.09 miles

Parking Lot B

2.27 miles
Parking Lot A

2.28 miles
Special Events Parking

2.32 miles
Public Parking

2.49 miles
East Parking Lot

2.78 miles
North Parking Lot

2.80 miles
Seven Mile Parking Lot

2.91 miles
South Parking Lot

2.92 miles
North Parking Lot

2.95 miles
Center Parking Lot

3.01 miles

Park Motel of Farmington

2.23 miles
Grand Tulane Motel

2.38 miles
Detroit Marriott Livonia

2.42 miles
Embassy Suites by Hilton Detroit Livonia Novi

2.60 miles
TownePlace Suites

2.88 miles
Fairfield Inn

2.90 miles
Residence Inn

2.95 miles
Hampton

3.23 miles
Holiday Inn Express & Suites

3.24 miles
Sheraton

3.37 miles

Bigg Burger

0.10 miles
McDonald's

0.17 miles
Primo's Pizza

0.20 miles
G. Subu's Leather Bottle

0.86 miles
Subway

0.96 miles
Taco Bell

0.97 miles
Jimmy John's

0.97 miles
Leo's Coney Island

0.97 miles
Papa John's

0.98 miles
Arby's

1.00 miles

Webster Elementary

0.59 miles
St. Paul's Lutheran School

0.60 miles
United Hebrew School

0.67 miles
Bryant Junior High School (former)

1.27 miles
Lewis Cass Elementary School

1.42 miles
Coolidge Elementary School

1.45 miles
Buchanan Elementary School

1.53 miles
Niji-Iro Elementary

1.79 miles
Clarenceville High School

1.94 miles
Dickinson Junior High School (former)

2.04 miles

The Learning Tree Child Care Center - North

0.66 miles
Livonia Little Tots

2.14 miles
The Learning Experience

2.79 miles
KinderCare

2.92 miles
Montessori Center of Our Lady

3.26 miles
Tutor Time

3.35 miles
Country Hills Montessori

3.39 miles
KinderCare

4.01 miles
Learning Tree

4.05 miles
Minto's Casa

5.28 miles

Frequently Asked Questions

What is the lease rate for Detroit Residential Investment Opportunity?

Rental asking rate at Detroit Residential Investment Opportunity is $1,908,000.00/YR.

What is the total square footage of Detroit Residential Investment Opportunity?

Detroit Residential Investment Opportunity totals 50,000 square feet.

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