Kirkwood House Apartments | 6055 Southfield Fwy
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Kirkwood House Apartments 6055 Southfield Fwy
56 Unit Apartment Building $3,100,000 ($55,357/Unit) Detroit, MI 48228
Executive Summary
This owner has several other value-add multifamily properties in the Saginaw, Detroit, and Flint area markets. Contact us for more details on this property plus our other available properties.
This property is perfect for the upcoming Detroit Pilot program that is designed to reduce property taxes for affordable housing properties for up to 30 years.
The Kirkwood House Apartments, a thriving 56-unit apartment complex located at 6015 Southfield Freeway in Detroit. This exceptional investment property offers a rare combination of high occupancy rates, strong cash flow, and tremendous upside potential. With 32 one-bedroom/one-bath and 24 two-bedroom/one-bath apartments, the Kirkwood House Apartments boasts an impressive 85% occupancy rate, ensuring a stable stream of income. The property's 8.5% cap rate guarantees strong returns on investment, making it an attractive opportunity for savvy investors. This property presents a rare chance to acquire a high-performing investment in a growing market. With its prime location, experienced management team, and potential for rent growth, the Kirkwood House Apartments is an investment opportunity not to be missed.
This property is perfect for the upcoming Detroit Pilot program that is designed to reduce property taxes for affordable housing properties for up to 30 years.
The Kirkwood House Apartments, a thriving 56-unit apartment complex located at 6015 Southfield Freeway in Detroit. This exceptional investment property offers a rare combination of high occupancy rates, strong cash flow, and tremendous upside potential. With 32 one-bedroom/one-bath and 24 two-bedroom/one-bath apartments, the Kirkwood House Apartments boasts an impressive 85% occupancy rate, ensuring a stable stream of income. The property's 8.5% cap rate guarantees strong returns on investment, making it an attractive opportunity for savvy investors. This property presents a rare chance to acquire a high-performing investment in a growing market. With its prime location, experienced management team, and potential for rent growth, the Kirkwood House Apartments is an investment opportunity not to be missed.
Property Facts
| Price | $3,100,000 | Building Class | C |
| Price Per Unit | $55,357 | Lot Size | 1.62 AC |
| Sale Type | Investment | Building Size | 45,224 SF |
| No. Units | 56 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.06/1,000 SF |
| Apartment Style | Low Rise |
| Price | $3,100,000 |
| Price Per Unit | $55,357 |
| Sale Type | Investment |
| No. Units | 56 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.62 AC |
| Building Size | 45,224 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.06/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 24 | - | - |
| 1+1 | 32 | - | - |
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PROPERTY TAXES
| Parcel Number | 22-07461-428 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,012,300 |
PROPERTY TAXES
Parcel Number
22-07461-428
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,012,300
zoning
| Zoning Code | CM |
| CM |
-
Timothy Cook - Skyline Realty Group, LLC
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Kirkwood House Apartments | 6055 Southfield Fwy
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