Value Add 9 Unit Apartment Building in W. Detroit!
$319,900
SOLD
16005 Schoolcraft Rd
Detroit, MI
This property is a no brainer! HUGE ROI Potential!
Currently this property has 5 units rented for $500 and $550 per unit. The 4 vacant units should be immediately rented for $800 per unit.
Once all units are rented and rents are increased to market value $800 per month per unit, this property has the potential to operating at well over a 15% CAP Rate!
All units are 1/1's and on separate electrical meters.
Tenants pay all utilities except for water and hot water. Ideally, each unit can be submetered for water.
Great curb appeal with brick and indoor corridors.
