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Buy&Hold (Multifamily): (138 Units) 23740 Fenkell Ave, Detroit, MI 48223 + UNAVAILABLE

Updated: Jan 20

Multifamily Investment Opportunity





Price

$6,900,000


130 UNITS


Introducing Parkside Apartments - a lucrative off-market opportunity for savvy investors seeking a high cash on cash return and a value-add income-producing asset. This rare 130-unit apartment complex is strategically situated at 23740 Fenkell Ave, offering incredible potential in an ideal location.


Boasting a robust Net Operating Income (NOI) of $421,000, Parkside Apartments presents an attractive investment opportunity with a solid foundation for profitability. With an asking price of $6,900,000, this property offers exceptional value for investors looking to maximize their returns.


Conveniently located near major retailers and major highways, Parkside Apartments ensures convenience and accessibility for tenants. This prime location enhances the potential for strong tenant demand, ultimately contributing to a stable and reliable income stream.

The true value of Parkside Apartments lies in its exceptional value-add potential. With careful strategic planning and implementation of renovation and improvement strategies, this property offers immense room for increased rental rates and improved overall property performance. Investors with a vision for maximizing rental income will undoubtedly appreciate the wealth of opportunities this asset presents.


Whether you are an experienced investor seeking to diversify your portfolio or an ambitious newcomer looking to enter the income-producing real estate market, Parkside Apartments is a not-to-be-missed opportunity.


Don't hesitate to seize this chance to acquire a highly desirable property that promises strong cash on cash return and long-term growth potential.


Contact us now to schedule a private showing and explore the untapped potential of Parkside Apartments. Don't miss out on the chance to secure a valuable investment in a prime location with tremendous value-add opportunities. Please submit all offers directly to sarter@promiselandrealtyllc.com










Property Site Plan




Property Trade Map




"Your #1 Source for Off Market Investment Properties, NATIONWIDE"



PROMISE LAND REALTY, LLC

Work: 864-762-2509


All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. *Realtors add your fee on top*

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