Map of Property

Detroit Multi-Family Portfolio

For Sale

1705 Oakman, 18977 Evergreen, & 24514 West 7 Mile, Detroit, MI 48219

This Detroit property for sale is located at 1705 Oakman, 18977 Evergreen, & 24514 West 7 Mile. The current listed sale price for Detroit Multi-Family Portfolio is $1,290,000.

Contacts

broker

Joel Kestenberg

Friedman Real Estate

(248) 324-2000

Property Details

  • 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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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)

Attachments

Getting around

  • 64/100

    Walk Score ®

  • 47/100

    Transit Score ®

  • 48/100

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Location

  • 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

  • Glory Super Market

    0.36 miles

  • Redford Oaks

    0.46 miles

  • Redford Oaks

    0.56 miles

  • Spartan Foods

    0.83 miles

  • Aldi

    0.83 miles

  • Evergreen Supply Company

    1.65 miles

  • Value Center

    1.99 miles

  • Save-A-Lot

    2.03 miles

  • Busch's CARES Market

    2.47 miles

  • Gordon Food Service

    2.74 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

Joel Kestenberg

Friedman Real Estate

(248) 324-2000