Buy&Hold (Multifamily): (30 Units) Covington Apts, Palmer Park, Detroit, MI 48203 + $1,800,000
- Promise Land Realty
- 2 days ago
- 3 min read
Updated: 24 hours ago
Single Family Investment Opportunity
Price
$2,250,000
OFF-MARKET DETROIT MULTIFAMILY PORTFOLIO
30 Units | Seller Financing Available | Certificate of Compliance Included
Offered at $1,800,000 ($60K Per Door)
Team Promiseland is proud to present an exclusive off-market multifamily investment opportunity consisting of 30 apartment units across four contiguous brick buildings located at:
810 Whitmore
818 Whitmore
811 Covington
819 Covington
Detroit, Michigan
This portfolio offers investors the rare combination of immediate in-place cash flow, operational scale, strong occupancy, and substantial upside through rental increases and continued stabilization.
The properties are professionally owner-managed and include current Certificates of Compliance, current rent information, and operating expenses available upon request.
Property Info: https://drive.google.com/file/d/1wrSNH0wsngcLqMyOm_HjFQ7FO5k_0nxp/view?usp=drive_link
Investment Highlights
30 Total Units Across 4 Contiguous Buildings
Strong Existing Occupancy
Significant Rental Upside Potential
Seller Financing Available with Flexible Structure
Brick Construction
Parking Included
Certificate of Compliance Available
Current Rent Roll & Expenses Available
Well-Maintained Asset with Long-Term Ownership Pride
Excellent Value-Add Opportunity in Growing Detroit Rental Market
Property Overview
Originally developed in the 1950s, the portfolio consists of classic Detroit brick multifamily buildings featuring durable construction and strong long-term rental appeal.
Property features include:
Vinyl replacement windows
Forced-air heating systems
Basement laundry and storage areas
Asphalt parking
Courtyard-style layout
Updated mechanical components
Functional unit layouts
Strong tenant demand location
The buildings have been maintained and provide investors with a stable operational foundation while still leaving room for future NOI growth through interior upgrades and rent optimization.
Value-Add Opportunity
Current ownership has maintained consistent occupancy while leaving meaningful room for future increases in rental income.
A new owner can potentially increase cash flow through:
Interior unit renovations
Market rent adjustments
Utility optimization
Operational efficiencies
Improved management systems
Comparable renovated units in the surrounding Detroit market continue to support higher rental rates, creating a strong long-term appreciation and cash flow opportunity.
Ideal Buyer
This opportunity is ideal for:
Multifamily investors
Syndicators
Value-add operators
Detroit apartment buyers
1031 exchange buyers
Long-term cash flow investors
Seller is open to creative structuring and may consider carrying a note with substantial down payment.
Serious inquiries only.
Current rent roll, expense information, and additional due diligence materials available upon request.
All offers and NDA requests should be submitted directly to:
Property Map
TEAM PROMISELAND DISCLAIMER: No one is permitted to market, advertise, or distribute this listing without express written permission or verified membership within the TEAM PROMISELAND network. Unauthorized use or sharing of this opportunity, photos, or property information will result in a $500 fine per incident, enforceable by law.
All off-market properties are sold As-Is, Where-Is. Buyer is responsible for conducting their own due diligence. Properties are conveyed via warranty deed, and Promiseland Realty LLC is selling its assignable contractual interest.
Proof of Funds is required with all offers. Earnest Money Deposit (EMD) is due within 48 hours of accepted offer. All closings are facilitated through a licensed title company or closing attorney.
Realtors & Brokers: You are welcome to bring a buyer — please add your fee on top of our asking price.
Trusted by over 50,000+ Investors. Featured on BiggerPockets:
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Personalized Support from the Promiseland team
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Team Promiseland Partners – Sponsor Benefits
Direct exposure to a nationwide network of active investors, wholesalers, and buyers
Featured placement on the Promiseland Realty website and deal room
Promotion in daily email blasts reaching high-intent real estate professionals
Access to our private deal network (buyers, lenders, and operators)
Consistent inbound leads from real deal flow—not just traffic
Position your brand as a trusted, vetted service provider in the community
Opportunities to connect on live deals and build long-term partnerships
The #1 Source for Off Market Real Estate.
PROMISE LAND REALTY LLC
Work: 864-762-2509
Trusted by 50,000+ Investors. Featured on BiggerPockets:
PROMISELAND DISCLAIMER:
Promiseland Realty LLC is a nationwide real estate consulting firm specializing in off-market investment opportunities, strategic acquisitions, and real estate advisory services.
No one is permitted to market, advertise, or distribute this listing without express written permission or verified membership within the TEAM PROMISELAND network. Unauthorized use or sharing of this opportunity, photos, or property information will result in a $500 fine per incident, enforceable by law.
All off-market properties are sold As-Is, Where-Is. Buyer is responsible for conducting their own due diligence. Properties are conveyed via warranty deed, and Promiseland Realty LLC is selling its assignable contractual interest.
Proof of Funds is required with all offers. Earnest Money Deposit (EMD) is due within 48 hours of an accepted offer. All closings are facilitated through a licensed title company or closing attorney.
Realtors and Brokers: You are welcome to bring a buyer — please add your fee on top of our asking price.
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