14801 Joy Road

Detroit MI 48228

8326 sq. ft.

0.23 ac.

Multi-Family

Currently for sale - view listing

Overview

Prime value-add multifamily investment opportunity in Detroit. This 14-unit property (all 1-bedroom units) is approximately 50% occupied with 7 paying tenants one of which is section 8,. Six units are vacant and currently being turned. 1 unit is currently being used for storage. Six of the seven units will be renting in the next 30-60 days providing immediate cash flow and a clear path to increased NOI. Once all of these units are rented again this property will gross around 12000 per month or 134400 annually. Extensive upgrades and improvements completed since 2023 reduce near-term capital expense risk while enhancing rent growth potential. Significant upside remains through stabilization of vacant units and continued rental optimization. Ideal for investors seeking strong yield, forced appreciation, and long-term portfolio growth. Let's make a deal.