Map of Property

Detroit Residential Investment Opportunity

For Sale

W Seven Mile Rd, Detroit, MI 48234

This Detroit property for sale is located at W Seven Mile Rd. The current listed sale price for Detroit Residential Investment Opportunity is $3,816,000.

Contacts

broker

Eric D. Banks

Dominion Real Estate Advisors

(248) 399-9999

Property Details

  • 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

Getting around

  • 69/100

    Walk Score ®

  • 47/100

    Bike Score ®

Powered by Walk Score ®

Location

  • 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

  • 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

  • Speedway

    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

  • Joe's Produce

    0.10 miles

  • Kroger

    1.01 miles

  • Kohl's

    1.66 miles

  • Walmart Supercenter

    1.76 miles

  • Sears

    1.87 miles

  • Busch's

    2.17 miles

  • Gordon Food Service

    2.25 miles

  • Laurel Park Place

    2.32 miles

  • International Mediterranean Market

    2.34 miles

  • Farmington Plaza Shopping Center

    2.36 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Eric D. Banks

Dominion Real Estate Advisors

(248) 399-9999