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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

ZONING

Zoning Code RMU
  • Listing ID: 17210029

  • Date on Market: 9/16/2019

  • Last Updated:

  • Address: 16500 N Park Dr, Southfield, MI 48075