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16800 Telegraph Rd
Detroit, MI 48219
The Langford · Multifamily Property For Sale · 56 Units
PROPERTY FACTS
No. Units | 56 | Building Size | 50,410 SF |
Property Type | Multifamily | Average Occupancy | 100% |
Property Subtype | Apartment | No. Stories | 2 |
Apartment Style | Garden | Year Built/Renovated | 1963/2017 |
Building Class | C | Parking Ratio | 1.5/1,000 SF |
Lot Size | 1.53 AC |
No. Units | 56 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Garden |
Building Class | C |
Lot Size | 1.53 AC |
Building Size | 50,410 SF |
Average Occupancy | 100% |
No. Stories | 2 |
Year Built/Renovated | 1963/2017 |
Parking Ratio | 1.5/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
About 16800 Telegraph Rd , Detroit, MI 48219
The City of Detroit, it is not only Michigan’s largest city, but also the seat of Wayne County, whose population exceeds 1.8 million. Detroit is the major cultural, financial, and transportation center in the Metro Detroit area, and serves as the major port on the Detroit River connecting the Great Lakes system to world markets. In 2010, the city had a population 713,777 and ranked as the 18th most populous city in the United States. The Detroit-Windsor area, a critical commercial link straddling the Canada-U.S. border, has a total population of about 5.7 million. Detroit is the birthplace of the automobile and is synonymous with the American automobile industry. Downtown Detroit has seen an explosive revitalization in recent years, and has become the preeminent entertainment destination in Southeastern Michigan. With the opening of three new casino resort hotels, two new stadiums (with a third on the way) and the continued redevelopment of the Detroit Riverwalk, social activities are abound. Shrewd and well-capitalized investors are vying for access to the downtown, midtown and riverfront submarkets. Several other noteworthy developments are also underway in Detroit, signaling a renaissance that has finally begun to materialize. From a multifamily standpoint, the City of Detroit is perhaps one of the most sought after markets in the country both from a investor and renter standpoint. As of late rental rates in the downtown are reaching levels over $2.00 per square foot, which is consistent with other major metropolitan areas and an excellent indicator of this market’s potential for multifamily investors. As rental rates in downtown have continued to rise it has pushed many quality renters out of this sub-market and into the outlying areas. This in-turn has resulted in improved occupancy rates across the city as well as rising rental rates. With no end in sight for revitalization of downtown, the future is very bright for the city as a whole.
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 44 | - | 611 |
2+1 | 12 | - | 791 |
Links
PROPERTY TAXES
Parcel Number | 22-12251-921 | Improvements Assessment | $0 |
Land Assessment | $0 | Total Assessment | $959,000 |
PROPERTY TAXES
zoning
Zoning Code | B4 |
B4 |
Learn More About Investing in Apartment Buildings
Listing ID: 14655696
Date on Market: 12/17/2018
Last Updated:
Address: 16800 Telegraph Rd, Detroit, MI 48219
The Detroit W of Woodward Multifamily Property at 16800 Telegraph Rd, Detroit, MI 48219 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.
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