Please check your email for your login details.131 Beds
$6,750,000
138 Baths
67608 Sq FT
$99.84 Price per Sq Ft
Highlights
About This Home
Pilot Program accepted through the City of Detroit!! Well-maintained 138-unit brick apartment community located in a highly desirable area of Detroit, just off Telegraph Road on Fenkell Road. This stabilized asset consists of three buildings and is currently 98% occupied, offering strong in-place cash flow. The property operates at an attractive 10% cap rate with additional upside through modest rent increases. Seller has done numerous amounts of upgrades and remodeling to the property in the past couple of years. The community is gated and features laundry facilities in each building. Hallways and a majority of units have been updated, contributing to tenant appeal and reduced turnover costs. Major systems have been well cared for, including boilers in excellent condition and a brand-new flat roof. With no immediate capital expenditures required, this is a turnkey investment ideal for both first-time multifamily investors and seasoned buyers looking to expand their portfolio. Property has Certificate of Compliance good through 2027
Listing Agent
Justin Zehel
Keller Williams Paint Creek
Listed on : January 27, 2026
Activity
Days on Market:102
Home Details
Home Type
- ResidentialIncome
Est. Annual Taxes
- $105,404
Year Built
- Built in 1967
Lot Details
- 2.34 Acre Lot
- Lot Dimensions are 101930
Parking
Home Design
Interior Spaces
- 67,608 Sq Ft Home
Kitchen
Flooring
Bedrooms and Bathrooms
- 131 Bedrooms
- 138 Bathrooms
Laundry
Finished Basement
Home Security
Pool
Outdoor Features
Location
- 23740 Fenkell ST
Utilities
- NaturalGas, SeparateMeters, Steam
- Water Source: Public
- Sewer: PublicSewer
About the Showing Agent
Hassan Scheib
Own It Realty
Contact Hassan
As a leading Real Estate investment broker, native Detroiter, and family man, Hassan Scheib commands a firm grasp of investing in the Detroit Metro area. His experience and native intuition have led him from success to success as he has overseen property sales, acquisitions, inspections, construction, and tenant placement. Hassan combines keen business acumen, finance know-how, transparency, and ethics with every deal, and he is skilled in Portfolio Sales, Investor Relations, Strategic Planning, Marketing & Management. Above all else, he understands that the client is at the center of the deal and knows how to listen to their needs, roll up his sleeves, and offer them first-class customized service. Committed and attentive, Hassan is always ready to dip into his expansive professional network, industry experience, care, and meticulous attention to detail to help clients reach their goals.
Map
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Hassan Scheib