DETROIT, MI 48224

12-UNIT VALUE-ADD MULTIFAMILY OPPORTUNITY — FULL LEASE-UP POTENTIAL!

Investors, here's an opportunity to acquire a 12-unit brick apartment building in Detroit's Yorkshire Woods area near I-94. This property is 100% vacant, offering the ability to renovate, stabilize rents, and build significant long-term cash flow.

PROPERTY OVERVIEW

• 12 units — all 1 bedroom / 1 bathroom

• Approximately 750 sq. ft. per unit

• 8,696 sq. ft. building

• Built in 1962

• Two-story brick construction

• Courtyard-style layout

• 12 on-site parking spaces

• Basement with coin-operated laundry

• Individually heated units

• Tenants responsible for electric and heat, per seller

• 100% vacant — ready for renovation and lease-up

INVESTMENT NUMBERS

• Purchase Price: $335,000

• Price Per Unit: $27,917

• Estimated Rehab Budget: $90,000–$150,000

• Conservative Underwriting Rehab: $125,000

• Estimated Total Investment: $490,000, including $30,000 for closing and lease-up carry

• Projected Stabilized NOI: $58,810 annually

• Projected Unlevered Yield on Cost: 12.0%

• Estimated Stabilized Value: $535,000 at an 11% cap rate

RENTAL INCOME POTENTIAL

Market rents estimated at $900–$1,000 per unit monthly.

At $900 per unit:

• Monthly Gross Rent: $10,800

• Annual Gross Rent: $129,600

At $1,000 per unit:

• Monthly Gross Rent: $12,000

• Annual Gross Rent: $144,000

Potential Section 8 rental opportunity, subject to program approval and rent reasonableness.

VALUE-ADD OPPORTUNITY

The property is currently vacant, allowing an investor to complete renovations and lease units at projected market rents.

Areas requiring inspection include roofing, electrical, A/C openings, flooring, and unit interiors. Two units were previously photographed in finished condition; remaining units require further evaluation.

EXIT STRATEGIES

• Buy, renovate, and hold for cash flow

• Stabilize occupancy and refinance

• Long-term multifamily portfolio addition

• Renovate, lease, and potentially resell at a higher stabilized valuation

Cash or hard money. Sold strictly as-is. Proof of funds required.

Full investment package, financial projections, property photos, and walkthrough information available for serious buyers.

OITICE VENTURES LLC

Contact us for property access, additional information, and offer submission.

All income, repair, and valuation figures are estimates, not guarantees. Buyer must independently verify property condition, rental income, expenses, taxes, title, and municipal compliance.