60 Unit Value Add Apartment In Dearborn Michigan

60 unit apartment complex in a great area of Dearborn, Michigan

Off Market

Multi Family Apartment

• Full Rehab Needed

• Structurally Sound

• Full Blueprint Plans Completed and Available | City Approved

• Includes City Approval to Renovate Interior Units

• Renovation Ready

• One Half Mile West of Interstate 94 | 97,000 VPD

• Value-Add Opportunity

• 3 Adjacent Buildings Included in Sale

• 331,000+ People in Five-Mile Radius

• Walking Distance to Stores & Restaurants

• $435,700 Estimated NOI

• 100% Occupancy

• High Vacancy Property Redevelopment Project

• Class C

• Lot 0.56 AC

• Building Size 41,376 SF

• 3 Stories

• Built 1926

• Parking Ratio 1.69/1,000 SF

1. 10 studios 2. 46 (1) bedrooms 3. 4 (2) bedrooms

Approx rent per unit: $750 - $850+ after renovation

Purchase Price: $1,200,000 + 3% buyers fee

Approximate gross annual income - $400,000

ARV: $3,600,000+

Full address and detailed proforma available by request only. 

JP