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Scott Hutchison

scott@web-homes.net +1(616) 291-0440

$ 1,375,000

Est. payment | -/mo

8 Baths

0.77 Acres Lot

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$ 1,375,000

Est. payment | -/mo

Save

8 Baths

0.77 Acres Lot

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Municipality Southfield City

Subdivision Southfield City

MLS Listing ID 20261058360

Year Built 1986

Annual Tax Amount $16,378

Lot Size 0.770 Acres

Acres 0.77

Lot Dimensions 100 x 305

Source Realcomp

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

Zoning Multi-Family

Direction W 11 Mile Rd between Southfield Rd and Telegraph Rd; property on south side of W 11 Mile between Fairfield Rd and Marshall St.

Exterior

View Y/N No

Building

Water Public

Others

Tax ID 2424226003

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Greater Development LLC

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+1(616) 291-0440

scott@web-homes.net

8 N. Bridge Street Suite 104B, Rockford, MI, 49341, United States

15925 W 11 Mile Road Southfield, MI 48076

Scott Hutchison

Key Details

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Exterior

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15925 W 11 Mile Road