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$6,750,000 for Sale
23740 fenkell, detroit, MI 48223
Property Description
Pilot Program accepted through the City of Detroit!! Well-maintained 138-unit brick apartment community located in a highly desirable area of Detroit, just off Telegraph Road on Fenkell Road. This stabilized asset consists of three buildings and is currently 98% occupied, offering strong in-place cash flow. The property operates at an attractive 10% cap rate with additional upside through modest rent increases. Seller has done numerous amounts of upgrades and remodeling to the property in the past couple of years. The community is gated and features laundry facilities in each building. Hallways and a majority of units have been updated, contributing to tenant appeal and reduced turnover costs. Major systems have been well cared for, including boilers in excellent condition and a brand-new flat roof. With no immediate capital expenditures required, this is a turnkey investment ideal for both first-time multifamily investors and seasoned buyers looking to expand their portfolio. Property
General Information
Sale Price: $6,750,000
Price/SqFt: $100
Status: Active
MLS#: 50198321
City: detroit
Post Office: detroit
Schools: detroit city school district
County: Wayne
Subdivision: more than one legal involved
Acres: 2.34
Lot Dim: 101930
Bedrooms:131
Bathrooms:138 (138 full, 0 half)
Size: 67,608 sq.ft.
Acreage: 2.34 est.
Year Built: 1967
Style: 2 Story
Features & Room Sizes
Basement: Yes
Heating: Boiler
Heating: Boiler
Tax, Fees & Legal
Est. Summer Taxes: $64,358
Est. Winter Taxes: $41,046
Est. Winter Taxes: $41,046
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All information provided is deemed reliable but is not guaranteed and should be independently verified. Participants are required to indicate on their websites that the information being provided is 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. Listing By: Justin Zehel of Keller Williams Paint Creek
This listing last updated: Thu, March 05, 2026 at 5:20:06 PM EST
MIRealSource Listing Data Last Updated On Thursday, March 12 2026 at 6:39pm
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Listings presented by:
Justin Zehel
Keller Williams Paint Creek
Call: (248) 979-3466 |