16810-16854 Lahser Rd | Detroit, MI 48219
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16810-16854 Lahser Rd
Detroit, MI 48219
Presidential Plaza Apartments · Residential Property For Sale · 48 Units
Investment Highlights
- 48 Unit Apartment Complex - 36 Units Currently Occupied.
- NEW Current Market Rent of $895/mo.
- 47/48 Units Completely Remodeled from 2018-2022.
- Actuals & Projected NOI included - 11.89% Upside Cap at Ask.
- Month- to- Month Tenants Pay $920/mo
- Full Firestone Roof Replacement in 2014 (25 Yr Warranty).
Executive Summary
Newly renovated 48 unit apartment complex in northwest Detroit. Great potential for a motivated Buyer to push to a 10%+ cap rate. 3 layer keypad security - gate, building and room. Loan assumption available as an option. Many amenities in the surrounding area (Meijer, banks, restaurants, etc.)
PROPERTY FACTS
| Price Per Unit | £58,747 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.90 AC |
| Net Initial Yield | 11.89% | Building Size | 39,148 SF |
| No. Units | 48 | Average Occupancy | 100% |
| Property Type | Residential | Number of Floors | 2 |
| Property Subtype | Apartment | Year Built | 1963 |
| Apartment Style | Low Rise | Parking Ratio | 1.48/1,000 SF |
| Price Per Unit | £58,747 |
| Sale Type | Investment |
| Net Initial Yield | 11.89% |
| No. Units | 48 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.90 AC |
| Building Size | 39,148 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.48/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Washer/Dryer
- Heating
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- Laundry Facilities
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 48 | - | 670 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £0 | |
| Land Assessment | £0 | Total Assessment | £697,137 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£697,137
zoning
| Zoning Code | multifamily |
| multifamily |
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