16500 N Park Dr
Southfield, MI 48075
North Park Towers · Multifamily Property For Sale · 313 Units
PROPERTY FACTS
No. Units | 313 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | High Rise |
Building Class | C |
Lot Size | 2.00 AC |
Construction Status | Under Renovation |
Building Size | 468,895 SF |
Average Occupancy | 46% |
No. Stories | 19 |
Year Built/Renovated | 1967/2025 |
Parking Ratio | 0.95/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Heating
- Kitchen
- Range
- Tub/Shower
- Walk-In Closets
- Dining Room
SITE AMENITIES
- Business Center
- Controlled Access
- Clubhouse
- Fitness Center
- Property Manager on Site
- Doorman
- Furnished Units Available
- Guest Apartment
- Package Service
- Storage Space
- Elevator
- Maintenance on site
- Sundeck
ABOUT 16500 N PARK DR , SOUTHFIELD, MI 48075
Among Detroit's premier apartment communities, The Sapphire offers a uniquely elegant, luxurious, and spacious apartment living experience for its residents. Encompassing approximately 460,000 net rentable square feet, The Sapphire has 313 luxury apartments and 13 commercial units in two, 19-story towers connected by a single lobby. The Sapphire has exceptionally large apartments, including one-, two-, three-, and four-bedroom units ranging from 1,000 to over 3,000 square feet. The apartments have floor-to-ceiling windows allowing for spectacular views, large fully-equipped kitchens, exceptional closet space, and balconies in select units (74%). Amenities include a doorman, lobby clubhouse, underground parking garage with gate access system, convenience store /market, pool with sundeck, fitness center, spacious courtyard, social room, restaurant (with restricted access), and a dry cleaning / valet service. The residents are responsible for the electric, while heat and air conditioning are paid by the landlord. Although the property operates as a 100% luxury apartment rental community, it has been established legally as a condominium community, allowing for an easy conversion (i.e. when the property was built in 1967 it was legally established as a condominium, with a master deed and tax bill for each unit). While the property has been well maintained by current ownership, it offers an outstanding opportunity for added value via strategic upgrades.
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
1+1 | 124 | - | 1,000 - 1,155 |
2+2 | 125 | - | 1,350 - 1,700 |
3+2 | 64 | - | 2,000 - 2,150 |
LINKS
ZONING
Zoning Code | RMU |
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Listing ID: 17210029
Date on Market: 9/16/2019
Last Updated:
Address: 16500 N Park Dr, Southfield, MI 48075
The Multifamily Property at 16500 N Park Dr, Southfield, MI 48075 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.
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