For Sale $6,350,000
Property Type Multi-Family
Property Size 108,271 SF
Units 138
Lot Size 2.34 Acre
Property Tenancy Multi-Tenant
Year Built 1967
Date Updated Mar 3, 2024

Located on the north side of Fenkell Avenue just east of Telegraph Road.PARKSIDE APARTMENTS - A Prime Investment Opportunity in Detroit, MI! Discover the incredible potential of Parkside Apartments, located at 23740 Fenkell Ave, Detroit, MI 48223. This multi-family complex spans an impressive 108,271 square feet, offering 138 units situated on a spacious 2.34-acre lot. With a sale price of $6,730,000 and a cap rate of 6.27%, this property presents a fantastic opportunity for investors seeking attractive returns. The units feature various layouts, including studios, 1-bedroom, and 2-bedroom options, providing diverse rental income potential. Parkside Apartments boast numerous amenities, including refurbished roofs, separate electric and gas meters, and a secure gated entry, ensuring convenience and security for residents. The property's strategic location offers easy access to nearby amenities, transportation, and employment opportunities. Furthermore, the demographic profile of the area reveals a population of over 325,000 within a 5-mile radius, with an average household income of $51,072. This thriving community presents a promising market for potential tenants or buyers. Don't miss out on this exceptional investment opportunity! Contact Ferris Hamama at 248.406.7116 or [email protected] for additional information. Visit our website at www.keystonecres.com to explore more about Parkside Apartments and start capitalizing on this prime real estate investment in Detroit today!

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Attachments

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Highlights

Refurbished roofs
Separate electric and gas meter
Gated entry

Contacts

Ferris Hamama

Keystone Commercial Real Estate

(248) 406-7116

Location

Getting Around

Walk Score ®
48/100 Car-Dependent
Transit Score ®
30/100 Some Transit
Bike Score ®
54/100 Bikeable

Map
Street

City Detroit, MI
Neighborhood Redford
Zip Code 48223
Market Detroit

Points of Interest

CDM Transport LLC

4.56 miles
Dearborn

6.76 miles
Smith's Creek Depot Station

6.84 miles
Firestone Station

6.96 miles
Walnut Grove Station

6.97 miles
Royal Oak

8.88 miles

BP

0.15 miles
Sunoco

0.38 miles
RP Fuel

0.48 miles
Marathon

0.71 miles
Citgo

0.75 miles
Marathon

0.87 miles
Mobil

0.95 miles
Clark

0.96 miles
Clark

1.02 miles
Citgo

1.06 miles

Vistor Parking Lot B

2.92 miles
Vistor Parking Lot A

2.93 miles
Parking Lot C

2.95 miles
Parking Lot D

2.97 miles
Parking Lot E

3.03 miles
Parking Lot G

3.06 miles
Parking Lot H

5.08 miles
MRC parking lot

5.08 miles
Parking Lot A

5.18 miles
Parking Lot G

5.18 miles

Inn America

0.70 miles
Riviera Motel Detroit

1.51 miles
Royal Budget Inn

2.07 miles
Park Drive Motel

2.09 miles
Hilltop Motel

2.22 miles
Comfort Inn

3.13 miles
Quality Inn & Suites

4.22 miles
Grand Tulane Motel

4.67 miles
Cranbrook Inn

4.75 miles
Home

4.95 miles

Nicky D's Coney Island

0.15 miles
McDonald's

0.21 miles
Little Caesars

0.44 miles
Scotty Simpson’s Fish and Chips

0.71 miles
Grandy's Coney Island

0.87 miles
Krispy Krunchy Chicken

0.87 miles
KFC

1.09 miles
Fish and Chicken

1.12 miles
Subway

1.19 miles
Nicky D's Coney Island

1.33 miles

Murphy Academy

0.14 miles
Saint Christine School

0.60 miles
Far West Alternative Middle School

0.62 miles
Yost School

0.72 miles
Roosevelt Elementary School (razed)

0.91 miles
Far West Early Learning Center

1.09 miles
Detroit Leadership Academy Elementary School

1.13 miles
Old Redford Academy Middle School

1.22 miles
Saint Valentine School

1.24 miles
Old Redford Academy Elementary School

1.28 miles

Old Redford Pre-Kindergarten Academy

1.28 miles
Helping Hands child care

2.08 miles
Tott's Early Learning Center

3.11 miles
New West Side Head Start

3.14 miles
Allen Baptist Childcare & Development Center

3.32 miles
Academy of Detroit-West

3.43 miles
Hampton Church Child Care Center

4.06 miles
God's Little Schoolhouse

4.58 miles
Creative Learning Children's College

4.62 miles
Livonia Little Tots

5.15 miles

Frequently Asked Questions

What is the lease rate for Parkside Apartments?

Rental asking rate at Parkside Apartments is $3,175,000.00/YR.

What is the total square footage of Parkside Apartments?

Parkside Apartments totals 108,271 square feet.

When was this property built?

Parkside Apartments was built in 1967.

Looking for more in-depth information on this property?

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