Map
Listed price in listed location currency (USD).
$1,375,000

080

MLS® 20261058360

Overview

Key Facts

Type Multi Family
Levels Residential Income
Size 7600 sqft
Garage 
Taxes $16,378
Days Active 1
Lot Size 0.77 Acres
Approx. Age 1986
Avg. Price Per Sqft $180
MLS® Number 20261058360

Property Address: 15925 W 11 Mile Rd, Southfield, MI, 48076-3698

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® Number20261058360
Laundry LevelEnsuite
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1986
BasementFull, Unfinished
Driveway
Garage Spaces
HeatNatural Gas, Wall Furnace
A/C

Extras

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