14 unit multifamily in DETROIT - $305k

1 Reply

I'm selling my 14 unit multifamily apartment building in Detroit (Grand River / North West) due to my move to Germany last year. From overseas I can't take care of it as much as I would like to.

The building has been updated extensively, only 2 units are left that need some bigger repairs (new kichen cabinets & tiles). The basement needs some touch ups but overall its quite solid. 

The area is starting to develop with the first major Meijer Superstore just a 1/4 mile away from the building.

Its a good mix between 1br and 2 br units that get between $450 and $600 per month. Electricity is paid by tenants. Heating is done via central boiler.

Currently about half of the building is occupied, the annual proforma income is $84.000.

Price is $305.000

See below the listing and the recent announcement by Detroits mayor to invest in certain neighborhoods, including the one this building is in.



Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here