23411 Fenkell Ave Detroit MI 48223

Details

Introducing the Fenkell Apartments – an incredible investment opportunity in Detroit, MI! This multi-family complex, located at 23411 Fenkell, Detroit, MI 48223, is now available for sale at a price of $2,150,000. Spanning over 54,309 square feet and sitting on a spacious 2.27-acre lot, Fenkell Apartments boasts a well-maintained courtyard and newly installed exterior lighting. With separate electric metering and recently refurbished boilers, this property offers convenience and peace of mind for both tenants and future owners.

The building comprises 48 units of various sizes, including 22 one-bedroom units and 26 two-bedroom units, each with comfortable living spaces and balconies rebuilt to city code. The potential for rental income is substantial, with a projected Net Operating Income of $154,174 and a cap rate of 7.17%. Located in a thriving and densely populated area, Fenkell Apartments enjoys easy access to a range of amenities, shopping centers, and employment opportunities, making it an attractive prospect for both investors and renters. Don’t miss out on this fantastic opportunity to acquire the Fenkell Apartments in Detroit.