640 W Willis St | Detroit, MI 48201
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640 W Willis St
Detroit, MI 48201
Westwill Apartments · Multifamily Property For Sale · 60 Units
Investment Highlights
- Prime location in Midtown with a unit mix of half affordable and half conventional one-bedroom and two-bedroom apartment units.
- Value-add opportunity with the building being 63%-occupied at below-market rents with in-unit A/C and on-site laundry facilities.
- The building is located within an Opportunity Zone providing tax incentives for investors with capital gains dollars.
- Midtown is one of the most successful areas in Detroit, with a residential occupancy of 96% with plenty of development happening nearby.
- Major Employers in the area include General Motors, Ford, Quicken Loans, Ally Financial, Compuware, Shinola, American Axle, Little Caesars, and more.
- Since 2006, $9 billion has been invested in downtown and surrounding neighborhoods, $5.2 billion of which was in 2013 and 2014.
PROPERTY FACTS
| No. Units | 60 | Lot Size | 0.44 AC |
| Property Type | Multifamily | Building Size | 68,694 SF |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid Rise | Year Built/Renovated | 2001/2023 |
| Building Class | C | Parking Ratio | 1.74/1,000 SF |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 68,694 SF |
| No. Stories | 4 |
| Year Built/Renovated | 2001/2023 |
| Parking Ratio | 1.74/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Elevator
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 30 | - | - |
| 2+2 | 30 | - | - |
PROPERTY TAXES
| Parcel Number | 04-0008689 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,331,600 |
PROPERTY TAXES
Parcel Number
04-0008689
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,331,600
zoning
| Zoning Code | M-1 (Multi-Family) |
| M-1 (Multi-Family) |
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