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    15860 Joy Road

    Detroit, MI 48228
    • $3,399,000
    • STATUS: Active
    • ON SITE: 64 days
    • ID#: 2210058229
    Price Reduced
    UPDATED: 166 min ago
    $3,399,000
    • 0
      BEDS
    • 1.72
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 36,221
      SQFT
    • $94
      $/SQFT
    Type:
    Commercial
    Built:
    1951
    County:
    Zoning:
    Multi-Family,Residential
    Lot Size Dimensions:
    497X150

    School Ratings & Info

    School District:

    Description

    REDUCED!! PRO FORMA IN DOCUMENTS! NEW WINDOWS ON ORDER! CALLING ALL LONG TERM INVESTORS!!! THIS IS THE ONLY SECTION-8 60 UNIT APARTMENT BUILDING IN THE COUNTRY. 60 SECTION-8 HOMES UNDER ONE ROOF, ONE TAX BILL, ONE WATER BILL, 95% OCCUPIED, JUST UNDER $50,000 A MONTH IN GOVERNMENT GUARANTEED RENTS, 15% CASH ON CASH RETURNS AND SELLER IS RETIRING. CONVENIENTLY LOCATED NEAR FAIRLANE MALL, UNIVERSITY OF MICHIGAN-DEARBORN CAMPUS, ACCESS TO SOUTHFIELD AND 96 FREEWAYS. DOCUMENTS AND SHOWINGS ARE ONLY AVAILABLE DURING DUE DILIGENCE PERIOD WITH NDA, PROOF AND FUNDS AND ACCEPTED OFFER. TENANTS PAY ALL UTILITIES, NEWER MECHA NICALS, BRAND NEW ELECTRICAL PANELS, PARKING IN THE REAR. TEXT OR EMAIL ALL SERIOUS INQUIRIES.

    Monthly Payment Calculator



    © 2021 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Novak & Associates | Real Estate One are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2021-09-24T23:58:26.527.
    www.dannovakproperties.com/homes/119580982
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    15860 Joy Road Detroit, MI 48228

    • Price: $3,399,000
    • Status: Active
    • Updated: 166 min ago
    • ID#: 2210058229
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.72
    Acres
    36,221
    SQFT
    $94
    $/SQFT
    1951
    Built
    Neighborhood:
    Frischkorns Joy Road (Plats)
    County:
    Wayne
    Area:
    Det - Joy-dbn Ht Grnfld-limits
    School District:
    DETROIT
    Property Description
    REDUCED!! PRO FORMA IN DOCUMENTS! NEW WINDOWS ON ORDER! CALLING ALL LONG TERM INVESTORS!!! THIS IS THE ONLY SECTION-8 60 UNIT APARTMENT BUILDING IN THE COUNTRY. 60 SECTION-8 HOMES UNDER ONE ROOF, ONE TAX BILL, ONE WATER BILL, 95% OCCUPIED, JUST UNDER $50,000 A MONTH IN GOVERNMENT GUARANTEED RENTS, 15% CASH ON CASH RETURNS AND SELLER IS RETIRING. CONVENIENTLY LOCATED NEAR FAIRLANE MALL, UNIVERSITY OF MICHIGAN-DEARBORN CAMPUS, ACCESS TO SOUTHFIELD AND 96 FREEWAYS. DOCUMENTS AND SHOWINGS ARE ONLY AVAILABLE DURING DUE DILIGENCE PERIOD WITH NDA, PROOF AND FUNDS AND ACCEPTED OFFER. TENANTS PAY ALL UTILITIES, NEWER MECHA NICALS, BRAND NEW ELECTRICAL PANELS, PARKING IN THE REAR. TEXT OR EMAIL ALL SERIOUS INQUIRIES.
    Exterior Features

    Architecture Level 2 Story Construction Materials Brick Foundation Details Basement Foundation Materials Brick Lot Size Dimensions 497X150 Road Frontage Feet 497 Road Frontage Type Paved Roof Material Asphalt Waterfront YN No

    Interior Features

    Commercial Utilities Cable TvSmoke Alarm Heating Cooling Energy Starã‚® Qualified Furnace EquipmentForced Air Heating Fuel Natural Gas Office Heating Cooling Energy Starã‚® Qualified Furnace EquipmentForced Air Plant Heating Cooling Energy Starã‚® Qualified Furnace EquipmentForced Air Room Count 0 Sq Ft Main 48336 Sq Ft Office 950 Unit Efficiency Number Of 0 Unit One Bed Number Of 24 Unit Three Bed Number Of 0 Unit Two Bed Number Of 36 Water Heater Fuel Energy Starã‚® Qualified Water HeaterNatural Gas

    Property Features

    Apod Available YN Yes Buildings List Shed Business Type Residential Commercial Type Apartments Current Use Apartment Building Encroachment YN No Gross Scheduled Income 550000.00 Inventory Included YN Yes Inventory List YN Yes Land Contract YN No Legal Rental Certified YN Yes Listing Financing CashWarranty Deed Monthly Sales 46000 Net Operating Income 320000.00 Operating Expense 230000.00 Ownership Status Private OwnedShort Sale - No Percent Leased 95 Possession At Close Postal City Detroit Protection Period 7 Restrictions YN No Settlement City Sewer Sewer-Sanitary Short Sale No Tax Amount Summer 25126.0000 Tax Amount Winter 3003.0000 Title Private - Owned Total Tax 28129.0000 Unparsed Address 15860 Joy Rd Water Source Municipal Water Year Remodeled 2018 Zoning Multi-FamilyResidential

    IDX provided courtesy of Realcomp II Ltd., via Front Page Properties and Realcomp, ©2021 Realcomp II Ltd. Shareholders.


    © 2021 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Novak & Associates | Real Estate One are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2021-09-24T23:58:26.527.
     
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    Brighton MI, 48116