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$ 1,900,000
Est. payment /mo
Active
14881 Schaefer Highway Detroit, MI 48227
48 Baths
25,970 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 25,970 sqft
Price per Sqft $73
Subdivision Mi
MLS Listing ID 60954851
Full Baths 48
Year Built 1965
Annual Tax Amount $32,952
Lot Size 0.700 Acres
Acres 0.7
Lot Dimensions 300X102.2
Property Sub-Type Multi-Family
Property Description
Stacey Ann is a 48-unit multifamily property located in Northwest Detroit, offering stable cash flow with significant room for operational and rent growth. Built in 1965 and renovated in 2021, the property is currently 81% occupied, providing a clear path to increase NOI through lease-up, rent repositioning, and reduced management expenses. This property is part of the Detroit 2 Portfolio (83 total units), which is currently 87%+ occupied and generating $686,000+ in annual income, offering investors a proven cash-flowing operation with meaningful upside in a supply-constrained rental market.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Commercial
Rooms
Basement Poured
Interior
Heating Baseboard, Radiant
Fireplace No
Exterior
Exterior Feature Brick
Building
Foundation Basement
Water Public Water
Structure Type Brick
Schools
School District Detroit City School District
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by OakPointe Real Estate Advisors