16555 Schaefer Hwy Detroit, MI
$ 1,345,000
Property Attributes
  • ID#2210005161
  • TypePending
  • CountyWAYNE
  • CityDetroit
  • AreaDet 6-Tire - Grnfld - Livernois
  • NeighborhoodCOLLEGE GROVE SUB
  • Zip48235
  • Style
  • Year Built1962
  • Taxes$ 13696
  • Price$ 1,345,000
  • Bedrooms24
  • Full Bathrooms22
  • Half Bathrooms2
  • Sqr Footage46940
  • Lot Size0.41 Acres
Listing Provided Courtesy Of:
Downtown Realty
Data Source:
Property Description

**Great Investment Opportunity ** Here is your chance to break into the Multi-family investment market. This 22 unit apartment building is 95% occupied with tons of long term tenants. Each tenant pays for all of their own utilities except for water, and has an a/c unit in their apartment. Rent Rolls, and leases provided upon an accepted offer. Rooms/room sizes are estimated and should be verified by the buyer/buyer's agent. Purchaser to pay $495 processing fee to the listing broker at closing. Buyer will receive a clean title, warranty deed, and title insurance! Don't miss the chance to add this great property to your portfolio. **EMD to be held by Downtown Realty, No Exceptions **Please allow 24hrs to show!**

Price History
1/25/2021 Listed $1,350,000
4/12/2021 1% - $1,345,000

General Features

Basement Type Private
Construction Materials Brick
Cooling Wall Unit(s)
Cumulative Days on Market 86
Gross Scheduled Income 153600.00
Heating Forced Air
Listing Agent Public Id 387044
Net Operating Income 127380.00
Ownership Status Private Owned, Short Sale - No
Parcel Number W22I030691C700
Property Type Multifamily
Rent Includes Water/Sewer, Yard Maintenance
School District Detroit
Sewer Sewer-Sanitary
Short Sale No
Status Pending
Terms Offered Cash, Conventional, Warranty Deed
Total Sq Ft 46940
Transaction Type Sale
Year Built 1962
Year Remodeled 2018
Zoning Multi-Family

Interior Features

Basement Y/N Yes
Full Baths 22
Half Baths 2
Heating Fuel Natural Gas
Total Baths 22.20
Total Units 22
Unit Count 6

Exterior Features

Architecture Level 2 Story
Architecture Style Other
Exterior Features Fenced
Foundation Basement
Foundation Materials Brick
Frontage Feet 200
Lot Size Area 0.41
Lot Size Dimensions 200.00X90.00
Roof Material Asphalt
Water Source Municipal Water


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

IDX provided courtesy of Realcomp II Ltd., via and The Originating MLS(found above), © 2021 Realcomp II Ltd. Shareholders. Shareholders. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of May 18, 2021 3:56 AM UTC Information deemed reliable but not guaranteed. The data relating to real estate on this web site comes in part from the Internet Data Exchange (IDX) Program of Realcomp Ltd

Property vs Zip Code Average in 48235

AVG $90K
AVG $1,596
AVG 14
Year Built
AVG 1944
AVG 54
Data Provided by Walkscore ® not using MLS data