15925 W 11 Mile RoadSouthfield, MI 48076
$1,375,000
Listing courtesy of Greater Development LLC
12
Beds
8
Baths
7,600
Sqft
About
This Home
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.
Details
- Property Type
- Residential Income
- Style
- Multi Family
- Year Built
- 1986
- Lot Size
- 0.77 acres
- Garage Spaces
- 0
- Heating
- Natural Gas, Wall Furnace
- Cooling
- None
- Basement
- Full, Unfinished
- Annual Taxes
- $16,378
- MLS #
- 20261058360
About Southfield
A central Oakland County business center with established neighborhoods, mature trees and quick freeway access in every direction.
Gallery
Listing courtesy of Greater Development LLC. MLS # 20261058360. Information is deemed reliable but not guaranteed and should be independently verified.
Request a Showing
Fill out the form and we'll be in touch within the hour.
Keep Looking
