14881 Schaefer Highway
Detroit, MI 48227

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Description

Stacey Ann is a 48-unit multifamily property located in Northwest Detroit, offering stable cash flow with significant room for operational and rent growth. Built in 1965 and renovated in 2021, the property is currently 81% occupied, providing a clear path to increase NOI through lease-up, rent repositioning, and reduced management expenses.This property is part of the Detroit 2 Portfolio (83 total units), which is currently 87%+ occupied and generating $686,000+ in annual income, offering investors a proven cash-flowing operation with meaningful upside in a supply-constrained rental market.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family Home
• Listing Status: Active
• County/Area: Wayne County
• Zip Code: 48227
• Year Built: 1965
• School District: Detroit
• Basement: Yes
• Lot Size: 0.7 acres
• Construction Materials: Brick
• Directions: South of Chalfonte along Schaefer Highway
• Gross Income: 460800
• Heat Source: Natural Gas
• Heating: Baseboard, Radiant
• Lot Size Area: 0.7
• Lot Size Square Feet: 30492
• Lot Size Units: Acres
• MLS Area Major: Wayne County - 100
• MLS Area Minor: Wayne County - 100
• Main Type: Multi Family
• Parcel Number: W22I030826C40
• SEV: 743600
• Street Type: Paved
• Tax Annual Amount: 32952
• Tax Legal Description: W SCHAEFER HWY 319 THRU 333 HURON HEIGHTS SUB L34 P71 PLATS, W C R 22/62 300 X 102.2
• Total Approx Sq Ft All Bldgs: 25970
• Total Num Units: 48
• Water Source: Public