22330 W Warren Ave
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22330 W Warren Ave
14 Unit Apartment Building $995,000 ($71,071/Unit) 8.20% Cap Rate Detroit, MI 48239
Executive Summary
Excellent opportunity to own and operate a 14 unit apartment building on the far west side of Detroit. An already well managed asset, this building falls on the immediate border of Redford and Dearborn Heights, and surrounding home values and rents contribute to a potentially bright future of appreciation. This property both cash flows now and has meat on the bones for rent increases that will lead to a higher NOI and ultimately a higher valuation as a result. Offering memorandum and rent roll available upon request.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $995,000 | Building Class | C |
| Price Per Unit | $71,071 | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 9,444 SF |
| Cap Rate | 8.20% | Average Occupancy | 93% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | Parking Ratio | 1.05/1,000 SF |
| Apartment Style | Low Rise |
| Price | $995,000 |
| Price Per Unit | $71,071 |
| Sale Type | Investment |
| Cap Rate | 8.20% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 9,444 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 1.05/1,000 SF |
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 650 |
| 2+2 | 13 | - | 800 |
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PROPERTY TAXES
| Parcel Number | 22-0004506 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $314,900 |
PROPERTY TAXES
Parcel Number
22-0004506
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$314,900
zoning
| Zoning Code | B4 |
| B4 |
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22330 W Warren Ave
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