Colonial Manor Apartments
18045 & 18111 Lahser Road
Detroit, MI 48219
FOR SALE
Property Type:
MultiFamily ApartmentsAmount:
$3,000,000
Last Verified:
Mar 19, 2024Highlights
- 30,229 SF building | 49-unit | Built 1963
- 9.21% CAP Rate | $276,241 NOI
- Zoned R3
- Significant Value-Add Potential through Strategic Upgrades and Management Efficiencies
- Diverse Unit Mix: A mix of 1, 2, & 3-bedroom units across two buildings, allowing for a diversified tenant base & flexibility in rental strategies
- Community and Accessibility: The property's urban location ensures convenient access to local amenities, employment centers, and transportation networks, promoting a high quality of living for residents.
Description
Introducing a prime opportunity for Multifamily/Low-Rise/Garden investors in the Detroit area. This property features a substantial 30,229 SF building with 49 units, offering an excellent investment potential.
Discover the vibrant neighborhood surrounding the property in Detroit, MI. Located in a bustling area known for its commercial activity and dynamic business environment. Nearby, Detroit stands as a symbol of resilience, a city reborn and bustling with opportunities for exploration, making it an inviting destination for residents and visitors alike. With close proximity to major highways and just a short drive to downtown Detroit, the area is poised for growth and investment.
Year Built: 1963
Building Size: 30229sq ft
Lot Size: 1.46 acres
