14801 Joy Road
Detroit, MI 48228

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Description

Prime value-add multifamily investment opportunity in Detroit. This 14-unit property (all 1-bedroom units) is approximately 80% occupied with 11 paying tenants, providing immediate cash flow and a clear path to increased NOI. 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.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family Home
• Listing Status: Active
• County/Area: Wayne County
• Zip Code: 48228
• Year Built: 1959
• School District: Detroit
• Basement: Slab
• Lot Size: 10019 sq ft lot
• Basement Type: No
• Construction Materials: Brick
• Directions: S of Joy E of Greenfield
• Gross Income: 101700
• Heat Source: Electric
• Heating: Baseboard
• Lot Size Area: 0.23
• Lot Size Square Feet: 10018.8
• Lot Size Units: Acres
• MLS Area Major: Wayne County - 100
• MLS Area Minor: Wayne County - 100
• Main Type: Multi Family
• Operating Expense: 69000
• Parcel Number: W22I002215C9
• Road Frontage: 40
• SEV: 159400
• Street Type: Paved
• Tax Annual Amount: 8260.57
• Tax Legal Description: S JOY RD 131 THRU 127 OBENAUER-BARBER-LAING ORCHARD BLVD SUB L46 P90 PLATS, W C R 22/544 102 X 100
• Total Approx Sq Ft All Bldgs: 8326
• Total Num Units: 14
• Util Availat Street: Public Sewer