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$3,300,000
15860 Joy Rd, Detroit, MI 48228
0 Beds
60 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
  • Full Baths:
  • 60
  • Square Footage:
  • 36,221
  • Acreage:
  • 1.72
  • Year Built:
  • 1951
  • Listing ID #:
  • 2210059194
  • 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:
  • Multifamily
  • Architecture Style:
  • Common Entry Building
  • Basement Type:
  • Common
  • Foundation:
  • Basement
  • Foundation Material:
  • Brick
  • Has Basement:
  • 1
  • Number Of 1 Bedroom Units:
  • 24
  • Number Of 2 Bedroom Units:
  • 36
  • Number Of Units:
  • 2
  • Siding:
  • Brick
  • Stories:
  • 2 Story
  • Total Building Square Footage:
  • 36221
  • Year Built:
  • 1951
  • Year Renovated:
  • 2018
  • Net Operating Income:
  • 320000.00
  • Conforms To Zoning:
  • Multi-Family
  • Road Frontage:
  • 497
  • Road Frontage Type:
  • Paved
  • Days On Market:
  • 95
  • Financing Options:
  • Cash, Warranty Deed
  • For Sale Or Lease?:
  • Sale
  • Summer Tax:
  • 25126.0000
  • Winter Tax:
  • 3004.0000
  • Existing Water:
  • Municipal Water
  • Heating:
  • Forced Air
  • Heating Fuel:
  • Natural Gas
  • Sewage Type:
  • Sewer-Sanitary
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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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