10820 SCHOOLCRAFT Street
Property Description
**Detroit Multifamily Portfolio - Portfolio Sale Only** Rare opportunity to acquire a portfolio of six multifamily properties in the City of Detroit. **All six properties are being sold together as a single portfolio package. The seller will not consider the sale of individual properties at this time.** The current owner/developer is located out of state and has decided to sell the entire portfolio rather than continue managing the project remotely. This package presents investors and developers with a unique opportunity to complete a large-scale multifamily redevelopment project with substantial upside potential. The portfolio includes: - **14299 Fordham Street** - Fully renovated and occupied. Currently operating as a single-room rental property featuring 62 rentable beds with rents ranging from **$450 to $595 per month per bed**. - **14296 Glenwood Street** - 20-unit apartment building approximately 50% rehabilitated. Rough electrical and plumbing work have been completed and approved. - **18036 Schoenherr Street** - 30-unit apartment building. Brick exterior, cleaned out, boarded, secured, and dried-in. - **18055 Schoenherr Street** - 20-unit apartment building. Brick exterior, cleaned out, boarded, secured, and dried-in. - **18029 Schoenherr Street** - 18-unit apartment building. Brick exterior, cleaned out, boarded, secured, and dried-in. - **10820 Schoolcraft Road** - 18-unit apartment building. Brick exterior, cleaned out, boarded, secured, and dried-in. The vacant properties have been cleaned out and secured, providing a strong foundation for investors looking to complete renovations and maximize long-term cash flow. With a combination of existing income and significant value-add potential, this portfolio offers a rare opportunity to acquire scale in one transaction. Proof of funds required prior to any showings. Please drive by the properties prior to requesting showings.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,999,999 |
| No. of Units: | 17 |
| Year Built: | 1930 |
| Lot Size: | 8,516.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $176,471 |
| Property Website | Click Here |
| Number of Bedrooms: | 17 |
| Number of Bathrooms: | 17 |
ID: 3yd-REALCOMPMI-20261044001
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
2001 S Empire Avenue
Joplin, Missouri
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout