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15860 Joy Road

Detroit, MI 48228
  • $3,300,000
  • STATUS: Active
  • ON SITE: 135 Days
  • ID#: 2210059194
UPDATED: 77 min ago
$3,300,000
  • 0
    BEDS
  • 1.72
    ACRES
  • 60
    BATHS
  • 0
    1/2 BATHS
  • 36,221
    SQFT
  • $91
    $/SQFT
Type:
Multi-Family
Built:
1951
County:
Zoning:
Multi-Family
Lot Size Dimensions:
497.00X150.00

School Ratings & Info

School District:

Description

MULTIPLE OFFERS HIGHEST AND DUE BY MONDAY 5PM!! PRO FORMA IN DOCUMENTS! NEW WINDOWS ON ORDER! CALLING ALL LONG TERM INVESTORS!!! THIS IS THE ONLY SECTION-8 60 UNIT APARTMENT BUILDING IN THE COUNTRY. 60 SECTION 8 HOMES UNDER ONE ROOF, ONE TAX BILL, ONE WATER BILL, 95% OCCUPIED, JUST UNDER $50,000 A MONTH IN GOVERNMENT GUARANTEED RENTS, 15% CASH ON CASH RETURNS AND SELLER IS RETIRING. CONVENIENTLY LOCATED NEAR FAIRLANE MALL, UNIVERSITY OF MICHIGAN-DEARBORN CAMPUS, ACCESS TO SOUTHFIELD AND 96 FREEWAYS. DOCUMENTS AND SHOWINGS ARE ONLY AVAILABLE DURING DUE DILIGENCE PERIOD WITH NDA, PROOF AND FUNDS AND ACCEPTED OFFER. TENANTS PAY ALL UTILITIES, NEWER MECHA NICALS, BRAND NEW ELECTRICAL PANELS, PARKING IN THE REAR. TEXT OR EMAIL ALL SERIOUS INQUIRIES.

Monthly Payment Calculator



© 2021 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than GK Real Estate Team | Real Estate One are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the 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. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2021-12-05T23:55:45.637.
www.gkrealestateteam.com/homes/119645610
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15860 Joy Road Detroit, MI 48228

  • Price: $3,300,000
  • Status: Active
  • On Site: 135 Days
  • Updated: 77 min ago
  • ID#: 2210059194
0
Beds
60
Baths
0
½ Baths
1.72
Acres
36,221
SQFT
$91
$/SQFT
1951
Built
Neighborhood:
Frischkorns Joy Road (Plats)
County:
Wayne
Area:
Det - Joy-dbn Ht Grnfld-limits
School District:
DETROIT
Property Description
MULTIPLE OFFERS HIGHEST AND DUE BY MONDAY 5PM!! PRO FORMA IN DOCUMENTS! NEW WINDOWS ON ORDER! CALLING ALL LONG TERM INVESTORS!!! THIS IS THE ONLY SECTION-8 60 UNIT APARTMENT BUILDING IN THE COUNTRY. 60 SECTION 8 HOMES UNDER ONE ROOF, ONE TAX BILL, ONE WATER BILL, 95% OCCUPIED, JUST UNDER $50,000 A MONTH IN GOVERNMENT GUARANTEED RENTS, 15% CASH ON CASH RETURNS AND SELLER IS RETIRING. CONVENIENTLY LOCATED NEAR FAIRLANE MALL, UNIVERSITY OF MICHIGAN-DEARBORN CAMPUS, ACCESS TO SOUTHFIELD AND 96 FREEWAYS. DOCUMENTS AND SHOWINGS ARE ONLY AVAILABLE DURING DUE DILIGENCE PERIOD WITH NDA, PROOF AND FUNDS AND ACCEPTED OFFER. TENANTS PAY ALL UTILITIES, NEWER MECHA NICALS, BRAND NEW ELECTRICAL PANELS, PARKING IN THE REAR. TEXT OR EMAIL ALL SERIOUS INQUIRIES.
Exterior Features

Architecture Level 2 Story Architecture Style Common Entry Building Construction Materials Brick Foundation Details Basement Foundation Materials Brick Lot Size Dimensions 497.00X150.00 Pool YN No Road Frontage Feet 497 Road Frontage Type Paved Waterfront YN No

Interior Features

Basement Type Common Basement YN Yes Baths Total 60.00 Heating Forced Air Heating Fuel Natural Gas Living Area Source Public Records Room Count 0 Sq Ft Combined 36221 Sq Ft Total Basement 11165 Unit Efficiency Number Of 0 Unit Four Bed Number Of 0 Unit One Bed Number Of 24 Unit Three Bed Number Of 0 Unit Two Bed Number Of 36

Property Features

Assessment 0 Down Payment Resource YN No Encroachment YN No Existing Lease YN Yes Gross Scheduled Income 550000.00 Income Projection Actual Land Contract YN No Listing Financing CashWarranty Deed Monthly Rental Income 46000 Net Operating Income 320000.00 Number Of Units Leased 57 Ownership Status Private OwnedShort Sale - No Percent Homestead Exempt YN No Pets Allowed No Postal City Detroit Protection Period 7 Settlement City Sewer Sewer-Sanitary Short Sale No Tax Amount Summer 25126.0000 Tax Amount Winter 3004.0000 Title Private - Owned Total Tax 28130.0000 Transaction Type Sale Unit Loft Number Of 0 Unparsed Address 15860 JOY RD Water Source Municipal Water Year Remodeled 2018 Zoning Multi-Family

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© 2021 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than GK Real Estate Team | Real Estate One are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the 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. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2021-12-05T23:55:45.637.
 
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