PRICE REDUCED! $749,000

Wyoming Street

Detroit, MI

OM + Financials

9901 Wyoming Street Detroit, MI

$749,000 | 17 Units

  • List Price $749,000
  • # of Units 17
  • Price per Unit $44,059
  • Rentable SF 11,650

Offer Summary

Global Real Estate Advisors are pleased to present the exclusive offering of 9901 Wyoming, a stabilized, 17-unit multifamily property in Detroit. This turn-key investment property was built in 1960 and since has been renovated over the past few years, including a new boiler system, new hot water tank, updated plumbing and heating lines, a new laundry and storage room. More than 70% of the units have been upgraded as well. The property consists of fifteen one-bedroom units and two studio units, with each unit including a refrigerator, stove, A/C unit, and a balcony or patio.

As of the end of January 2024, the property has only one vacancy, with an average rent of about $750. The deal comes with substantial rental upside, as just about half of the tenants are well-below market rents. There is also operational income potential by implementing a utility reimbursement program.

Seller Financing available to qualified buyers. Terms are negotiable.

Highlights & Amenities

Units include refrigerator, stove, AC, and a balcony/patio

70-75% of the units have been renovated

Strong Occupancy
Recent Capital Expenditures

Value-Add Opportunities

Team

Nick Kirby

Nick Kirby

Managing Director
248.394.0000 x255