Buy&Hold (Multifamily): (69 Units) 1981-2025 W McNichols Road in Highland Park, Michigan 48203 + Palmer Park
- Promise Land Realty
- 10 minutes ago
- 3 min read
Multifamily Investment Opportunity
Price
$ 1,350,000
Off-Market Investment Opportunity
Palmer Park Estates | Value-Add Multifamily Opportunity
Palmer Park Estates offers a rare opportunity to acquire a 69-unit value-add multifamily asset in Detroit’s highly sought-after Palmer Park neighborhood, at a significant discount to replacement cost. Situated on a 1.80-acre site, the property consists of three three-story buildings constructed in 1925, with a strong unit mix of 36 one-bedroom, 27 two-bedroom, and 6 three-bedroom units.
The eastern building (33 units) is currently offline due to prior fire damage and vandalism, while the remaining two buildings (18 units each) present a clear path for renovation and lease-up. With 0% current occupancy, investors have a true blank-slate opportunity to execute a comprehensive repositioning strategy and capture market rents without tenant displacement.
The property is directly south of Palmer Park and the Detroit Golf Club, providing immediate access to green space and recreational amenities. It is located 0.6 miles from Henry Ford Hospital, 1.2 miles from Wayne State University, within one mile of the University of Detroit Mercy, and approximately 15 minutes from Downtown Detroit, with convenient access to Woodward Avenue, I-75, and the Lodge Freeway (M-10).
Investment Highlights
69-unit multifamily complex on a 1.80-acre site
0% occupancy – true value-add and lease-up opportunity
Offered at a discount to replacement cost
Three-building configuration allows for phased renovation strategy
Strong unit mix attractive to a broad tenant base
40 surface parking spaces (0.58 per unit)
R-UV Urban Village zoning
Prime Palmer Park location adjacent to major green space and Detroit Golf Club
Proximity to major employment and educational anchors, including Henry Ford Hospital, Wayne State University, and University of Detroit Mercy
Palmer Park Estates represents a compelling opportunity for investors seeking scale, flexibility, and long-term upside in one of Detroit’s most established and desirable multifamily submarkets.
Sales Comps
Proof of funds required for access.
Submit All Offers & Inquiries Directly To: investments@promiselandrealtyllc.com
This is an off-market solicitation; please do not disturb area occupants or ownership.
Property Map
OFFICIAL PROMISELAND LENDING PARTNER
100% Financing for Rehab Projects
Powered by Residential Capital Partners
ResCap is a direct private lender offering zero-money-down loan options for 1-4 unit residential investment flips & rentals across the U.S.
🔹 100% Financing – Covers purchase + rehab
🔹 Fast Closings – ~10 days
🔹 Credit Requirements – 620+ FICO (Rehab), 660+ FICO (DSCR)
🔹 Loan Size – $75K–$1.25M
🔹 Rates – 10.9%–11.9% | 2–3% origination | 1st lien
🔹 Serviced In-House | Virtual Inspections | No Owner-Occ or Rural Props
        Nationwide Coverage (Excludes: AK, AZ, NV, PA)
        Proof of Funds Available
This listing is proudly sponsored by Residential Capital Partners – trusted lending for the nation’s best flippers.
For more info email sarter@promiselandrealtyllc.com or text (864) 762-2509
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Promiseland Realty LLC is a nationwide real estate consulting firm specializing in off-market investment opportunities, strategic acquisitions, and real estate advisory services.
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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.