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- LoopNet Team
14725 Joy Rd
Detroit, MI 48228
Joy Apartments · Multifamily Property For Sale
·
18 Units
PROPERTY FACTS
| No. Units | 18 | Building Size | 7,700 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1964 |
| Building Class | C | Parking Ratio | 2.47/1,000 SF |
| Lot Size | 0.46 AC | ||
| Zoning | Residential | ||
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 7,700 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 2.47/1,000 SF |
| Zoning | Residential |
AMENITIES
SITE AMENITIES
- Property Manager on Site
ABOUT 14725 JOY RD , DETROIT, MI 48228
PRESENTING ROYCOURT APARTMENTS! THIS IS YOUR RARE OPPORTUNITY TO PURCHASE A WELL-MAINTAINED 18 UNIT MULTI-FAMILY RESIDENTIAL APARTMENT BUILDING LOCATED ON JOY AND LAUDER ON DETROIT'S WEST SIDE. THIS PROPERTY HOUSES SEVERAL LONG-TERM TENANTS AND BOASTS A ZERO VACANCY AS ALL UNITS ARE TENANT OCCUPIED. THERE IS A NEWER ROOF, ALL WORKING MECHANICALS. THIS IS A TURN-KEY INCOME GENERATING INVESTMENT. THE FAMILY-RUN CORPORATION IS READY TO ENJOY THEIR RETIREMENT AND ENSURE THIS PROPERTY ENDS UP IN GOOD HANDS. THERE IS AN 8.64% CAP RATE. HOWEVER, MARKET RENTAL RATES AFFORD A 10.89% CAP RATE. DO NOT DISTURB THE TENANTS!
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 5 | $600.00 | 612 - 805 |
| 1+1 | 13 | $500.00 | 630 |
PROPERTY TAXES
| Parcel Number | 22-00220-514 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $429,400 |
PROPERTY TAXES
