21124 Schoolcraft Detroit MI 48223

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Introducing Blackstone Apartments – an incredible investment opportunity located at 21124 Schoolcraft, Detroit, MI 48223. With a sale price of $1,200,000, this 30-unit apartment building offers 1-bedroom apartments perfect for tenants seeking comfortable and affordable living. Situated on a spacious lot spanning 0.41 acres, the building boasts a total size of 19,500 SF. The units are currently generating a gross scheduled income of $216,000, with a net operating income of $102,992. The property’s strong financial performance is reflected in its attractive cap rate of 8.58%. Blackstone Apartments enjoys a strategic location with a rapidly growing population in the surrounding area. Within 5 miles, there are over 168,138 households and a total population of 373,631, providing a large pool of potential tenants. Don’t miss out on this exceptional investment opportunity. Whether you’re an experienced investor looking to expand your portfolio or a first-time buyer seeking a lucrative venture, Blackstone Apartments offers the perfect combination of affordability, convenience, and potential for steady returns.