14801 Joy Road, Detroit, Michigan 48228

$850,000

Property Details

MLS#: 20261005534
Bedrooms: N/A
Bathrooms: 14
Square Feet: 8,326
Price per Sqft: $102
Lot Size: 0.23 acres
Year Built: 1959
Property Type: ResidentialIncome
Status: Active
Days on Market: 47

Description

Prime value-add multifamily investment opportunity in Detroit. This 14-unit property (all 1-bedroom units) is approximately 50% occupied with 7 paying tenants one of which is section 8,. Six units are vacant and currently being turned. 1 unit is currently being used for storage. Six of the seven units will be renting in the next 30-60 days providing immediate cash flow and a clear path to increased NOI. Once all of these units are rented again this property will gross around 12000 per month or 134400 annually. 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.

Location

This property is located in Detroit, Michigan. Detroit is part of the Metro Detroit area, offering convenient access to employment, schools, shopping, and recreation.

Frequently Asked Questions

What is the price of 14801 Joy Road?

14801 Joy Road is listed at $850,000, or $102 per square foot.

How many bedrooms does 14801 Joy Road have?

This property has N/A bedrooms and 14 bathrooms, with 8,326 square feet of living space.

Schedule a Showing

Interested in this property? Contact Sonic Realty to schedule a private showing. Our experienced agents can help you navigate the home buying process.

Phone: (313) 466-2430

Email: info@sonicrealty.com

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