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$3,300,000
15860 Joy Rd, Detroit, MI 48228
0 Beds
0 Baths
36,221 sqft

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MULTIPLE OFFERS HIGHEST AND DUE BY MONDAY 5PM!!! PRO FORMA IN DOCUMENTS! NEW WINDOWS ON ORDER! CALLING ALL LONG TERM INVESTORS!!! THIS IS THE ONLY SECTION-8 60 UNIT APARTMENT BUILDING IN THE COUNTRY. 60 SECTION-8 HOMES UNDER ONE ROOF, ONE TAX BILL, ONE WATER BILL, 95% OCCUPIED, JUST UNDER $50,000 A MONTH IN GOVERNMENT GUARANTEED RENTS, 15% CASH ON CASH RETURNS AND SELLER IS RETIRING. CONVENIENTLY LOCATED NEAR FAIRLANE MALL, UNIVERSITY OF MICHIGAN-DEARBORN CAMPUS, ACCESS TO SOUTHFIELD AND 96 FREEWAYS. DOCUMENTS AND SHOWINGS ARE ONLY AVAILABLE DURING DUE DILIGENCE PERIOD WITH NDA, PROOF AND FUNDS AND ACCEPTED OFFER. TENANTS PAY ALL UTILITIES, NEWER MECHA NICALS, BRAND NEW ELECTRICAL PANELS, PARKING IN THE REAR. TEXT OR EMAIL ALL SERIOUS INQUIRIES.
  • Price:
  • $3,300,000
  • Square Footage:
  • 36,221
  • Acreage:
  • 1.72
  • Year Built:
  • 1951
  • Listing ID #:
  • 2210058229
  • Street Address:
  • 15860 Joy Rd
  • City:
  • Detroit
  • State:
  • Michigan
  • Postal Code:
  • 48228
  • County:
  • Wayne
  • Community:
  • Det - Joy-Dbn Ht Grnfld-Limits
  • Subdivision:
  • Frischkorns Joy Road (plats)
  • Listing Status:
  • Active
  • Listing Type:
  • Commercial
School District: Detroit
  • Foundation:
  • Basement
  • Foundation Material:
  • Brick
  • Main Level Square Footage:
  • 48336
  • Number Of 1 Bedroom Units:
  • 24
  • Number Of 2 Bedroom Units:
  • 36
  • Number Of Units:
  • 2
  • Office Square Footage:
  • 950
  • Rent Includes:
  • Garbage Pickup, Snow Removal, Water/Sewer, Yard Maintenance
  • Siding:
  • Brick
  • Stories:
  • 2 Story
  • Total Building Square Footage:
  • 36221
  • Type Of Roof:
  • Asphalt
  • Year Built:
  • 1951
  • Year Renovated:
  • 2018
  • Business Type:
  • Residential
  • Net Operating Income:
  • 320000.00
  • Operating Expense:
  • 230000.00
  • Conforms To Zoning:
  • Multi-Family, Residential
  • Existing Land Use:
  • Apartment Building
  • Road Frontage:
  • 497
  • Road Frontage Type:
  • Paved
  • Days On Market:
  • 127
  • Financing Options:
  • Cash, Warranty Deed
  • For Sale Or Lease?:
  • Sale
  • Summer Tax:
  • 25126.0000
  • Winter Tax:
  • 3003.0000
  • Outbuildings:
  • Shed
  • Existing Water:
  • Municipal Water
  • Heating:
  • Energy Star Qualified Furnace Equipment, Forced Air
  • Heating Fuel:
  • Natural Gas
  • Sewage Type:
  • Sewer-Sanitary
  • Water Heater:
  • Energy Star Qualified Water Heater, Natural Gas
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • IDX provided courtesy of Realcomp II Ltd. Front Page Properties
  • IDX provided courtesy of Realcomp II Ltd., via Jason Mitchell Group | Michigan and Realcomp II Ltd, ©2021 Realcomp II Ltd. Shareholders FARMHILL

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