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West Village : 6 Units | 100% Occupied | 8.3% 8116 Kercheval St

6 Unit Apartment Building $1,299,000 ($216,500/Unit) 8.33% Cap Rate Detroit, MI 48214

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Executive Summary

Located on Kercheval Avenue between Parker and Seminole Streets in Detroit’s charming West Village, 8116 Kercheval consists of three historic mixed-use buildings. The buildings were fully renovated in 2016 and include both retail and residential units. The ground floor is fully leased to Two Birds, a bar and ice cream shop, currently expanding into an adjacent retail space, and Velvet Tower, a vintage clothing store. The second floor includes three residential units (ranging from 720 to 1,106 square feet), which are currently operated as short-term rentals generating income above standard residential leases. The property features a wrap-around terrace/community space that connects the buildings and provides additional usable outdoor area. Positioned a block from neighborhood landmarks Sister Pie and Marrow, this offering presents a unique opportunity in one of the most vibrant, commercially established sections of desirable West Village.
Property tours will be Wednesday, December 11th from Noon - 2:00 PM

West Village - 8116 Kercheval - OM

Property Facts

Price	$1,299,000	Building Class	C
Price Per Unit	$216,500	Lot Size	0.21 AC
Sale Type	Investment	Building Size	5,215 SF
Cap Rate	8.33%	Average Occupancy	100%
No. Units	6	No. Stories	2
Property Type	Multifamily	Year Built/Renovated	1916/2016
Property Subtype	Apartment General Retail Storefront Retail/Residential	Parking Ratio	1.34/1,000 SF
Apartment Style	Townhome	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$1,299,000
Price Per Unit	$216,500
Sale Type	Investment
Cap Rate	8.33%
No. Units	6
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential
Apartment Style	Townhome
Building Class	C
Lot Size	0.21 AC
Building Size	5,215 SF
Average Occupancy	100%
No. Stories	2
Year Built/Renovated	1916/2016
Parking Ratio	1.34/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.