14725 Joy Rd

    Detroit, MI 48228
    • $620,000
    • STATUS: Active
    • ON SITE: 76 days
    • MLS #: R219091529
    UPDATED: 63 min ago
    $620,000
    • 0
      BEDS
    • 0.46
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 13,732
      SQFT
    • $45
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1964
    County:

    School Ratings & Info

    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!

    Monthly Payment Calculator



    © 2019 Ann Arbor Area Association of Realtors Multiple Listing Service. All rights reserved. IDX information is provided exclusively 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. Information is deemed reliable but is not guaranteed accurate by the MLS or Tyler Stipe Team | RE/MAX Platinum. Data last updated: 2019-11-22T12:13:07.957.
    www.tylerstipeteam.com/homes/98737060

    14725 Joy Rd Detroit, MI 48228

    • Price: $620,000
    • Status: Active
    • Updated: 63 min ago
    • MLS #: R219091529
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.46
    Acres
    13,732
    SQFT
    $45
    $/SQFT
    1964
    Built
    Neighborhood:
    Glr Out Of Area
    County:
    Wayne
    Area:
    Glr Out Of Area
    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!
    Exterior Features

    Access To Rail Yes Doors At Grade 0 Exterior Brick Loading Docks 0 Lot Dimensions 200.00 X 100.00 Parking Spaces 0

    Interior Features

    Basement Yes Building Sq Ft 13732.0 Clear Ceiling Height 0.00 Heat Source Gas Heat Type GasHot Water Office Sq Ft 0 Restrooms 0 Retail Sq Ft 0 Total Sq Ft 13732.0

    Property Features

    Annual Operating Expenses 53519.00 Approx Inventory Amount 0 Associations Realcomp Building Value 0 Certified Year 0 City Or Township City Commercial Subtype Industrial Cost Of Goods Sold 0 Deposit 0.00 Electric Amount 0 Equipment Value 0 Financing Terms Cash Goodwill Amount 0 Gross Income Amount 0 Gross Sales Amount 0 Income Year 0 Janitorial Amount 0 Land Value 0 Lease Amount 0 Legal Description S Joy Rd 193 Thru 184 Obenauer-Barber-Laing Orchard Blvd Sub L46 P90 PlatsW C R 22/544 200 X 100 Less Oper Expenses Amount 0 Maintenance Amount 0 Net Income Amount 53571.00 Present Use Recreation State Eq Value 154700 State Eq Value Year 0 Summer Taxes 0.00 Summer Taxes Year 0 Tax Value 130884 Tax Year 0 Water Amount 0 Water Type Public Winter Taxes 0.00 Winter Taxes Year 0 Zoning Multi-Family

    Listing provided courtesy of Re/Max New Trend.


    © 2019 Ann Arbor Area Association of Realtors Multiple Listing Service. All rights reserved. IDX information is provided exclusively 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. Information is deemed reliable but is not guaranteed accurate by the MLS or Tyler Stipe Team | RE/MAX Platinum. Data last updated: 2019-11-22T12:13:07.957.
     
    Tyler Stipe Team | RE/MAX Platinum
    325 W Eisenhower Pkwy
    Ann Arbor MI, 48103