Turnkey 40-Unit Multifamily Opportunity | 12–14% Cap Rate Potential | Prime Detroit Location
Fully remodeled 40-unit multifamily asset ideally located in the heart of Detroit, just minutes from major shopping districts and directly adjacent to the highly sought-after Dearborn Heights community. This property has undergone a full transformation—modernized units, updated mechanicals, and refreshed common areas—making it a truly turnkey opportunity. With projected annual revenue of approximately $480,000, this property offers investors a potential 12–14% cap rate upon stabilization. Lightly occupied post-renovation with strong tenant interest already in motion. Seller is ready to hand off this high-yield investment to a new owner ready to capitalize on rising demand and long-term wealth creation through lease-up and management.
Fully remodeled 40-unit multifamily asset ideally located in the heart of Detroit, just minutes from major shopping districts and directly adjacent to the highly sought-after Dearborn Heights community. This property has undergone a full transformation—modernized units, updated mechanicals, and refreshed common areas—making it a truly turnkey opportunity. With projected annual revenue of approximately $480,000, this property offers investors a potential 12–14% cap rate upon stabilization. Lightly occupied post-renovation with strong tenant interest already in motion. Seller is ready to hand off this high-yield investment to a new owner ready to capitalize on rising demand and long-term wealth creation through lease-up and management.
Property Details
Price:
$2,499,000
MLS #:
20250033930
Status:
Active
Beds:
0
Baths:
40
Address:
18250 WEAVER ST
Type:
Single Family
Subtype:
Multi Family
Subdivision:
EMERSON PARK PLATS
Neighborhood:
05034 – Det: Joy-Schoolcraft Grnfld-Limits
City:
Detroit
Listed Date:
May 9, 2025
State:
MI
Finished Sq Ft:
19,557
ZIP:
48228
Lot Size:
38,768 sqft / 0.89 acres (approx)
Year Built:
1969
See this Listing
Meet Andrea Stephan, an accomplished real estate professional with industry experience and a heart dedicated to service. With a background in education, Andrea began her journey as a former teacher, where her passion for nurturing others blossomed. Transitioning seamlessly into the business world, Andrea played a pivotal role in building a property management company from the ground up. Her relentless dedication and innate ability to connect with others have been instrumental to her success. C…
More About AndreaMortgage Calculator
Schools
School District:
Detroit
Interior
Bathrooms
40 Full Bathrooms
Heating
Electric, Space Heater
Exterior
Architectural Style
Colonial
Construction Materials
Brick, Brick Veneer
Parking Features
Parking Lot, Shared Driveway
Parking Spots
50
Financial
Taxes
$48,402
Map
Community
- Address18250 WEAVER ST Detroit MI
- SubdivisionEMERSON PARK (PLATS)
- CityDetroit
- CountyWayne
- Zip Code48228
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