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(248) 345-5109
Real Estate Company
13535 La Salle Blvd, Detroit, MI 48238
- $499,000
- 19
- BA
- 13,575
- SqFt
- List Price
- $499,000
- MLS#
- 20261088603
- Status
- ACTIVE
- Bathrooms
- 19
- Subdivision
- ROBERT OAKMANS TWELFTH ST
Property Description
Value-add apartment opportunity in Detroit with the hard work already underway. This 19-unit, three-story brick building offers about 11,075 square feet on 0.19 acre and is offered at 499,000, roughly 36,800 per unit and about 63 per square foot. Built in 1929, it has the solid construction and unit count investors look for at an entry price that leaves room to build equity. Location is a major strength. The property sits close to the Davison Freeway, I-96 and I-75, giving tenants fast routes to Downtown, Midtown and the rest of the metro area, which supports steady rental demand. Updates are already done where it counts. More than half of the units are renovated and rent-ready, with luxury vinyl plank flooring and refreshed kitchens and baths. Additional improvements include a new boiler installed in 2023, a rubber roof, brand-new fencing around the attached parking lot and an on-site coin laundry room for added income. The unit mix is 14 one-bedrooms, one two-bedroom and four studios. The potential is clear. Only one unit is currently occupied, so a new owner can lease up the renovated units at market rents right away, then complete cosmetic updates on the remaining units to raise occupancy and grow net income. At an assumed average rent of 900 per month, gross potential income is about 205,200 per year, a gross rent multiplier near 3.4 at list price. All financial figures are projections based on a pro forma stabilized analysis assuming full occupancy and are not current income. Buyer and buyer’s agent to verify all information, including unit count, zoning, square footage, rents and taxes.
Additional Information
- Year Built
- 1929
- Basement Type
- Common, Common Storage Locker, Full, Partial, Walk Up Access
- Acres
- 0.30
- Lot Dimensions
- 210X110
- Style
- Common Entry Building
- Acres
- 0.30
- School District
- Detroit
- Interior Features
- Entrance Foyer, High Speed Internet, Programmable Thermostat
- Cooling
- Window/Wall
- Heating
- Natural Gas, Radiant, Steam
- Exterior Features
- Balcony, Lighting, Private Entrance
- Garage Description
- Lighted, Parking Lot, On Street
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IDX provided courtesy of Realcomp II Ltd., via Real Estate Company and . Copyright 2026 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for 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 and that the data is deemed reliable but not guaranteed accurate by the MLS.