Buy&Hold (Multifamily): 184 Units, Pierre Manor Apartments, Detroit, MI 48219 - Deal Available
Updated: Aug 18
Multifamily Investment Opportunity
Price
$7,200,000
184 Units - 83% Occupied
Located in close proximity to the intersection of 7 Mile and Telegraph Rd, this outstanding property presents an excellent investment opportunity for those seeking a value-add multifamily property in Detroit. With a current occupancy rate of 83%, this property offers immediate income potential while also presenting significant room for growth.
Key Features:
Strategic Location: Situated in a prime location on Detroit's Northwest side, this property benefits from easy access to major transportation routes, schools, shopping centers, and other essential amenities. Its convenient proximity to the intersection of 7 Mile and Telegraph Rd ensures excellent visibility and accessibility for tenants.
Strong Monthly Rental Income: With a total monthly rental income of $105,375, this property offers a solid foundation for immediate cash flow. The current occupancy rate of 83% provides a reliable stream of rental revenue, making it an attractive investment opportunity.
Value-Add Potential: The true value of this property lies in its untapped potential for rental increases and property renovation updates. By implementing strategic management practices, implementing modern amenities, and enhancing unit interiors, investors can unlock substantial value and achieve higher rental rates, thereby maximizing their returns.
Additional Information: For interested investors, further details regarding financials, property specifications, and value-add strategies are available upon request. Our team will be delighted to provide comprehensive information to support your due diligence process and help you make an informed investment decision.
Take advantage of this exceptional opportunity to invest in a value-add property on Detroit's Northwest side. With a current occupancy rate of 83% and significant potential for increased rental income and property upgrades, this property offers a compelling investment proposition for astute investors seeking long-term growth and profitability.
Don't miss out on this chance to capitalize on Detroit's thriving real estate market. Contact us today to request additional information or schedule a private viewing.
Please submit all offers to sarter@promiselandrealtyllc.com
Pierre Manor Capital Rent Roll 7.2023
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Pierre Manor Capital T12
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Aerial View
Property Map
"Your #1 Source for Off Market Investment Properties, NATIONWIDE"
PROMISE LAND REALTY, LLC
Work: 864-762-2509
sarter@promiselandrealtyllc.com
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. 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*