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60 Unit Value Add Apartment In Dearborn Michigan

Updated: May 25


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

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