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14725 JOY RD Detroit, MI 48228
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Key Details
Sold Price $580,000
Property Type Commercial
Sub Type Apartments
Listing Status Sold
Purchase Type For Sale
Square Footage 13,732 sqft
Price per Sqft $42
Subdivision Obenauer-Barber-Laing Orchard Blvd Sub (Plats)
MLS Listing ID 219091529
Sold Date 02/10/20
Bedrooms 18
Originating Board Realcomp II Ltd
Year Built 1964
Annual Tax Amount $11,418
Lot Size 0.460 Acres
Acres 0.46
Lot Dimensions 200.00 X 100.00
Property Description
PRESENTING ROYCOURT APARTMENTS! THIS IS YOUR RARE OPPORTUNITY TO PURCHASE A WELL-MAINTAINED 18 UNIT MULTI-FAMILY RESIDENTIAL APARTMENT BUILDING LOCATED ON JOY AND LAUDER ON DETROIT'S WEST SIDE. THIS PROPERTY HOUSES SEVERAL LONG-TERM TENANTS AND BOASTS A ZERO VACANCY AS ALL UNITS ARE TENANT OCCUPIED. THE FAMILY-RUN CORPORATION IS READY TO ENJOY THEIR RETIREMENT AND ENSURE THIS PROPERTY ENDS UP IN GOOD HANDS. THERE IS AN 8.64% CAP RATE. HOWEVER, MARKET RENTAL RATES AFFORD A 10.89% CAP RATE. DO NOT DISTURB THE TENANTS!
Location
State MI
County Wayne
Area Det 6-Tire - Grnfld - Livernois
Zoning Multi-Family
Direction SOUTHFIELD FREEWAY TO JOY RD, EAST ON JOY RD, SOUTH SIDE OF THE STREET
Interior
Hot Water Natural Gas
Heating Hot Water, Window/Wall Unit
Heat Source Natural Gas
Exterior
Exterior Feature Private Entry
Utilities Available ENERGY STAR Qualified Light Fixture(s), ENERGY STAR Qualified Window(s), Intercomm, Security Alarm
Roof Type Asphalt
Road Frontage Pub. Sidewalk
Building
Foundation Basement
Sewer Sewer-Sanitary
Water Municipal Water
Level or Stories 2 Story
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W22I002205C14
Ownership Corporate/Relocation,Short Sale - No
Acceptable Financing Cash, Conventional, Warranty Deed
Listing Terms Cash, Conventional, Warranty Deed
Financing Cash,Conventional,Warranty Deed
Special Listing Condition Full Service
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