21400 W 7 Mile Rd, Detroit, Michigan 48219
- $3,200,000
- 64
- BA
- 50,478
- SqFt
- List Price
- $3,200,000
- Ownership
- Short Sale - No, Private Owned
- MLS#
- 58050102244
- Status
- ACTIVE
- Bathrooms
- 64
- Subdivision
- Stollman 3 Also Pg 51
Property Description
64-unit brick apartment complex in 8 buildings situated on 2.28 acre site with nice curb appeal and location is 75% occupied. 24 two bedroom units and 40 one bedroom units. Complex underwent a $500,000 capital improvement plan in 2022. New electrical & plumbing have been completed to building of 16 vacant units with only interior finish to be completed (estimated to bring an additional $153,600 in rental income annually). Some leases under market rent with ability to sign new leases at higher amount. All units have individual furnaces which is paid for by tenants. Large parking lot for tenants and property management office and property manager in place. Ideal opportunity for all cash buyer or bank financing.
Additional Information
- Summer Taxes
- 20799
- Winter Taxes
- 2500
- Year Built
- 1955
- Acres
- 2.33
- Lot Dimensions
- 101495
- Acres
- 2.33
- School District
- Detroit
- Heating
- Forced Air, Separate Meters
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Listing courtesy of Keller Williams Paint Creek.
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