12
See all 12 photos
$1,375,000
Est. payment /mo
8 Baths
7,600 SqFt
New
15925 W 11 Mile Road Southfield, MI 48076 3698
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Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,600 sqft
Price per Sqft $180
Subdivision Mi
MLS Listing ID 61015254
Style 2 Story
Full Baths 8
Year Built 1986
Annual Tax Amount $16,378
Lot Size 0.770 Acres
Acres 0.77
Lot Dimensions 100 x 305
Property Sub-Type Multi-Family
Property Description
Chestnut Oaks is an 8-unit, fully occupied garden-style apartment community in Southfield offering a turnkey multifamily investment opportunity. Built in 1986, the property spans two 2-story buildings totaling approximately 7,600 SF on a 0.70-acre lot, zoned RM. Unit mix includes four 1BR/1BA units (850 SF) and four 2BR/1BA units (1,050 SF), each featuring in-unit washer/dryer. Masonry construction, natural gas and wall furnace heat, and 14 parking spaces (2.00/unit). Landlord pays water and trash; tenants pay electric. Professionally managed by Silverside Management with strong historical occupancy. Current NOI of $92,517 reflects a 6.73% cap rate on the $1,375,000 asking price ($171,875/unit), with upside to a pro forma NOI of $93,429 (6.79% cap rate) through market rent adjustments. Convenient location near W 11 Mile Rd and Marshall St with easy access to major Southfield corridors. Property is tenant-occupied; showings by appointment only. Contact listing agent for financial package and additional details.
Location
State MI
County Oakland
Area Southfield (63244)
Zoning Multi-Family
Rooms
Basement Block
Interior
Fireplace No
Exterior
Amenities Available Laundry Facility
Building
Story 2 Story
Foundation Basement
Water Public Water
Schools
School District Southfield Public Sch District
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Greater Development LLC
Nearby Locations
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