16555 Schaefer
- Hardwood Floors
- Refrigerator & Stove
- Cable TV Ready
- Opportunities to Increase Rental & Other Income
- Seller Financing Available
Property Description
Global Real Estate Advisors are pleased to present the exclusive offering of the Schaefer Apartments in Detroit, MI. Schaefer Apartments, originally constructed in 1962, and renovated in 2018, are comprised of 20 one-bedroom units and 2, two-bedroom units. Currently, 8 of the 22 units have section-8 tenants and are achieving higher rents than conventional tenants. Implementing a utility reimbursement / RUBS program and continuing to fill vacancies with Section-8 tenants would prove to be a substantial value-add opportunity as many are paying well under market. The seller is willing to sell the property through a LAND CONTRACT.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| No. of Units: | 22 |
| Lot Size: | 15,225.00 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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