La Salle Manor | 13535 La Salle Blvd
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La Salle Manor 13535 La Salle Blvd
19 Unit Block of Flats £782,442 (£41,181/Unit) 11% Net Initial Yield Detroit, MI 48238
Investment Highlights
- 11% + Pro Forma CAP
- On-Site Parking
- Fully Renovated in 2024
Executive Summary
Rare opportunity on this Value Add Multi Family comprised of 19 units. Full brick well maintained building in the heart of Detroit. All units have been renovated. Unit mix consists of (14) one bedroom units, (1) two bedroom units ,(4) studio units. Strong financials with a projected 11% cap rate with all 19 units rehabbed. Each hallway and common areas are updated. Each unit has its own electric meter, Plenty of crucial upgrades completed including new boiler, common area and unit renovations, and many other capital upgrades totaling 250,000. The exterior has been impeccably maintained with a newer Spanish clay tile roof on the building, newer windows, and parking available for tenants. All tenants are in great standing with management, and management is offering a one or two year transition management agreement to the new investor. Conveniently located near major highways making commuting to nearby landmarks such as Wayne State University and Downtown Detroit. Don't miss out on this amazing opportunity.
Property Facts
| Price | £782,442 | Building Class | C |
| Price Per Unit | £41,181 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 11,075 SF |
| Net Initial Yield | 11% | Average Occupancy | 50% |
| No. Units | 19 | Number of Floors | 3 |
| Property Type | Residential | Year Built/Renovated | 1929/2024 |
| Property Subtype | Apartment | Parking Ratio | 2.26/1,000 SF |
| Apartment Style | Mid Rise |
| Price | £782,442 |
| Price Per Unit | £41,181 |
| Sale Type | Investment |
| Net Initial Yield | 11% |
| No. Units | 19 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 11,075 SF |
| Average Occupancy | 50% |
| Number of Floors | 3 |
| Year Built/Renovated | 1929/2024 |
| Parking Ratio | 2.26/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Balcony
- Washer/Dryer
- Heating
- Security System
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Wi-Fi
- Basement
- Dining Room
- Handrails
- Loft Layout
- Window Coverings
Site Amenities
- Controlled Access
- Fenced Lot
- Laundry Facilities
- Property Manager on Site
- Security System
- Wi-Fi
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 3 | £665.08 | 550 |
| 1+1 | 15 | £704.21 | 600 |
| 2+1 | 1 | £743.33 | 650 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £0 | |
| Land Assessment | £0 | Total Assessment | £308,911 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£308,911
zoning
| Zoning Code | Commercial, Multi-Family (Commercial, Multi-Family, Residential, Apartment) |
| Commercial, Multi-Family (Commercial, Multi-Family, Residential, Apartment) |
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Jay Naim -
Fadi Dabaja -
eXp Commercial LLC
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La Salle Manor | 13535 La Salle Blvd
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