Penrod Manor Apartments 18401 Joy Rd 58 Unit Apartment Building $2,400,000 ($41,379/Unit) Detroit, MI 48228
INVESTMENT HIGHLIGHTS
- 58 unit multifamily opportunity
- Strong value add opportunity
- Strong population density
- Two buildings; 29 units each
- All 1BR/1BA units
- Contact Broker for financials
EXECUTIVE SUMMARY
58 unit value add apartment complex for sale on the west side of Detroit, MI.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Renters Insurance Program
- Hearing Impaired Accessible
- Maintenance on site
- Vision Impaired Accessible
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 58 | $850.00 | 600 |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | $884,700 (2024) | |
| Land Assessment | $0 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2024) | Tax Year | 2023 Payable 2023 |
