Presidential Plaza Apartments

16810 Lahser Road, Detroit, MI 48219

Overview

Price:	$3,600,000
Number of Units:	48
Building Size:	48 SF
Property Type:	Multifamily
Year Built:	1963

Highlights

48 Unit Apartment Complex - 36 Units Currently Occupied.
Actuals & Projected NOI included - 11.89% Upside Cap at Ask.
NEW Current Market Rent of $895/mo.
Month- to- Month Tenants Pay $920/mo.
47/48 Units Completely Remodeled from 2018-2022.
Full Firestone Roof Replacement in 2014 (25 Yr Warranty).

Description

Newly renovated 48 unit apartment complex in northwest Detroit. Great potential for a motivated Buyer to push to a 10%+ cap rate. 3 layer keypad security - gate, building and room. Loan assumption available as an option. Many amenities in the surrounding area (Meijer, banks, restaurants, etc.)

Location

East side of Lahser Road, south of McNichols Road.

Contact Broker

Joseph Evangelista
Associate
Thomas Duke Company

Cell	313.580.5315
Office	248.479.0128 x1138

Andrew Battersby
Senior Associate
Thomas Duke Company

Cell	248.631.8085
Office	248.479.0119