For Sale $1,290,000
Property Type Multi-Family
Property Size 20,124 SF
Units 31
Date Updated Dec 15, 2023

1705 Oakman, 18977-18979 Evergreen, & 24514 West 7 Mile31 Unit (3 Property) Multifamily Portfolio located in Detroit, MI In place cash flow at ± 70% current occupancy across the portfolio (trending upwards) Significant value add potential via aggressive lease-up, modernized capital improvements, and professional property management Easy access to major freeways and interstates, major employers, bus routes, schools, shopping centers, and grocery stores Centrally located in the greater Metropolitan Detroit area Extremely dense demographics with a 2019 population estimate of ±1,254,000 and Avg HH Income of ±$60,000 within a 10-mile radius Asking price $1,495,000 (48k per unit)

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Attachments

Detroit Multi-Family Portfolio Marketing Book (PDF) opens in new window

Highlights

31 Unit (3 Property) Multifamily Portfolio located in Detroit, MI
In place cash flow at ± 70% current occupancy across the portfolio (trending upwards)
Significant value add potential via aggressive lease-up, modernized capital improvements, and professional property management
Easy access to major freeways and interstates, major employers, bus routes, schools, shopping centers, and grocery stores
Centrally located in the greater Metropolitan Detroit area
Extremely dense demographics with a 2019 population estimate of ±1,254,000 and Avg HH Income of ±$60,000 within a 10-mile radius
Asking price $1,290,000 (41.6k per unit)

Contacts

Joel Kestenberg

Friedman Real Estate

(248) 324-2000

Location

Getting Around

Walk Score ®
64/100 Somewhat Walkable
Transit Score ®
47/100 Some Transit
Bike Score ®
48/100 Somewhat Bikeable

City Detroit, MI
Neighborhood Redford
Zip Code 48219
Market Detroit

Points of Interest

CDM Transport LLC

5.02 miles
Royal Oak

8.09 miles
Dearborn

8.79 miles
Smith's Creek Depot Station

8.86 miles
Walnut Grove Station

8.99 miles
Firestone Station

8.99 miles
Troy

9.16 miles

BP

0.14 miles
Marathon

0.27 miles
BP

0.32 miles
Sunoco

0.57 miles
Citgo

1.03 miles
Sunoco

1.03 miles
Sunoco

1.04 miles
Clark

1.07 miles
Mobil

1.08 miles
Valero

1.12 miles

Parking Lot D

3.10 miles
Parking Lot C

3.12 miles
Vistor Parking Lot B

3.12 miles
Vistor Parking Lot A

3.15 miles
Parking Lot E

3.18 miles
Parking Lot G

3.29 miles
Parking Lot H

3.41 miles
Parking Lot A

3.51 miles
Parking Lot G

3.53 miles
Parking Lot E

3.69 miles

Riviera Motel Detroit

1.88 miles
Inn America

2.68 miles
Grand Tulane Motel

3.10 miles
Park Motel of Farmington

3.80 miles
The Westin Southfield Detroit

3.80 miles
Detroit Marriott Southfield

3.84 miles
Courtyard Detroit Southfield

3.85 miles
Comfort Inn

3.88 miles
Royal Budget Inn

4.10 miles
Park Drive Motel

4.12 miles

Dairy Queen

0.16 miles
Demi's Restaurant & Bar

0.23 miles
Aurora Coney Island

0.50 miles
Mama Mias

0.74 miles
Checkers

0.79 miles
Burger King

1.31 miles
Nicky D's Coney Island

1.32 miles
Subway

1.34 miles
KFC

1.35 miles
Wendy's

1.40 miles

Charles Wright Academy of Arts and Science

0.69 miles
Veritas Alternative Ed

0.70 miles
Lodge Elementary School (former)

0.72 miles
Ludington Magnet Middle and Honors School

0.72 miles
David Ellis Academy West

0.76 miles
Beech Elementary School

0.81 miles
Redford Service Learning Academy

0.86 miles
Stuckey Center

1.04 miles
Distinctive College Prep: Redford

1.11 miles
Development Centers Head Start

1.12 miles

Old Redford Pre-Kindergarten Academy

1.49 miles
Academy of Detroit-West

3.88 miles
Helping Hands child care

4.11 miles
Creative Learning Children's College

4.29 miles
KinderCare

4.44 miles
The Learning Experience

4.44 miles
Allen Baptist Childcare & Development Center

4.73 miles
Tutor Time

4.81 miles
Country Hills Montessori

4.84 miles
Hampton Church Child Care Center

4.94 miles

Frequently Asked Questions

What is the lease rate for Detroit Multi-Family Portfolio?

Rental asking rate at Detroit Multi-Family Portfolio is $645,000.00/YR.

What is the total square footage of Detroit Multi-Family Portfolio?

Detroit Multi-Family Portfolio totals 20,124 square feet.

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