15925 11 Mile Road, Southfield, Michigan 48076

$1,375,000

Property Details

MLS#: 20261058360
Bedrooms: N/A
Bathrooms: 8
Square Feet: 7,600
Price per Sqft: $181
Lot Size: 0.77 acres
Year Built: 1986
Property Type: ResidentialIncome
Status: Active
Days on Market: 4

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.

Location

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

Frequently Asked Questions

What is the price of 15925 11 Mile Road?

15925 11 Mile Road is listed at $1,375,000, or $181 per square foot.

How many bedrooms does 15925 11 Mile Road have?

This property has N/A bedrooms and 8 bathrooms, with 7,600 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