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Buy&Hold (Multifamily): 16041 Schoolcraft Street, Detroit, MI 48227 - SOLD

Updated: Oct 13, 2023

Multifamily Investment Opportunity










Price

$700,000


17 UNITS


Welcome to 16041 Schoolcraft Avenue, Detroit, MI 48227! We are excited to present you with an exceptional off-market opportunity: a well-maintained 17-unit apartment building situated in a prime location. This property offers a lucrative investment prospect with substantial income potential.


Of the 17 units available, 8 are currently occupied by tenants receiving rental assistance from reputable programs such as Section 8, COTS, and Travelers Aid. This presents a stable income stream and reduces the risk associated with vacancy. Additionally, 14 of the 17 units are currently leased, ensuring immediate cash flow upon acquisition.


The apartment building boasts a total current rental income of $8,888 per month, providing a strong foundation for consistent returns on your investment. With the potential for further value appreciation, this property is a compelling choice for both seasoned and aspiring investors.


We understand the significance of visual representation, and we have a collection of pictures available for you to get a comprehensive view of the building's interior and exterior. These images will showcase the well-maintained condition of the property and highlight its appealing features.


To further sweeten the deal, we have priced this remarkable investment opportunity at $700,000, considering all reasonable offers. The seller is open to negotiations and eagerly awaits your proposals. Please direct all offers to sarter@promiselandrealtyllc.com, and our dedicated team will ensure they are promptly reviewed.


Don't miss out on the chance to acquire this 17-unit apartment building, which offers a blend of stable rental income and future growth potential. Act now to secure a sound investment in the thriving Detroit real estate market. Contact us today to schedule a private viewing or to address any questions you may have.




Property Map



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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