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18401 Joy Road

Detroit, MI 48228
  • $1,399,900
  • STATUS: Pending
  • ON SITE: 92 Days
  • MLS #: 24009176
Pending
UPDATED: 158 min ago
$1,399,900
  • 0
    BEDS
  • 0.48
    ACRES
  • 29
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Business Opportunity
Built:
1972
County:

School Ratings & Info

School District:

Description

The property is an income producing 29-unit apartment building located on the West side of the city Detroit, Michigan. The property is positioned in the Warrendale Neighborhood, off Joy Rd just West of the Southfield Freeway. Penrod Faust consists of two buildings, with parking spaces on the side and back of the building. There are 29 units that are all 1 bedroom 1 bath, approximately 630 square feet. They heavy lifting is finished!!! Come in set your rents, fill your units and watch the cash flow in. The property is 80% occupied charging over $21,600 per month in gross potential rent. Of the 29 units - 12 units have been turned with light renovations. Rooms/room sizes are estimated and should be verified by the buyer/buyer's agent.

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© 2024 MichRIC, LLC. All rights reserved. Information deemed reliable but not guaranteed. Updated: 2024-05-29T10:59:43.213.
www.bhhssnyder.com/homes/147970767
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18401 Joy Road Detroit, MI 48228

  • Price: $1,399,900
  • Status: Pending
  • On Site: 92 Days
  • Updated: 158 min ago
  • MLS #: 24009176
0
Beds
29
Baths
0
½ Baths
0.48
Acres
1972
Built
Neighborhood:
Detroit City
County:
Wayne
School District:
Detroit
Property Description
The property is an income producing 29-unit apartment building located on the West side of the city Detroit, Michigan. The property is positioned in the Warrendale Neighborhood, off Joy Rd just West of the Southfield Freeway. Penrod Faust consists of two buildings, with parking spaces on the side and back of the building. There are 29 units that are all 1 bedroom 1 bath, approximately 630 square feet. They heavy lifting is finished!!! Come in set your rents, fill your units and watch the cash flow in. The property is 80% occupied charging over $21,600 per month in gross potential rent. Of the 29 units - 12 units have been turned with light renovations. Rooms/room sizes are estimated and should be verified by the buyer/buyer's agent.
Exterior Features

Construction Materials Brick Foundation Details Block Roof Rubber Water Access YN No Waterfront YN No

Interior Features

Heating YN Yes

Property Features

Auction Or For Sale For Sale Business Type Other Cross Street Southfield FWY Joy Road Documents Available [] Inclusions "Real Estate": true Lease Considered YN No Listing Terms ConventionalCash New Construction YN No Property Sub Type Business Sewer Public Sewer Tax Annual Amount 27994 Tax Year 2023 Utilities Public Sewer AvailableNatural Gas ConnectedCable Connected Water Source Public

Listing provided courtesy of Bryan Redmond of Berkshire Hathaway HomeService: 586-774-2300. © 2024 MichRIC, LLC. All rights reserved. Information deemed reliable but not guaranteed.
© 2024 MichRIC, LLC. All rights reserved. Information deemed reliable but not guaranteed. Updated: 2024-05-29T10:59:43.213.
 
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