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14725 JOY Road

$ 620,000
14725 JOY RD ,
37
Active

Description

PRESENTING ROYCOURT APARTMENTS! THIS IS YOUR RARE OPPORTUNITY TO PURCHASE A WELL-MAINTAINED 18 UNIT MULTI-FAMILY RESIDENTIAL APARTMENT BUILDING LOCATED ON JOY AND LAUDER ON DETROIT’S WEST SIDE. THIS PROPERTY HOUSES SEVERAL LONG-TERM TENANTS AND BOASTS A ZERO VACANCY AS ALL UNITS ARE TENANT OCCUPIED. THE FAMILY-RUN CORPORATION IS READY TO ENJOY THEIR RETIREMENT AND ENSURE THIS PROPERTY ENDS UP IN GOOD HANDS. THERE IS AN 8.64% CAP RATE. HOWEVER, MARKET RENTAL RATES AFFORD A 10.89% CAP RATE. DO NOT DISTURB THE TENANTS!

Address: 14725 JOY RD
City:
State/County:
Zip: 48228
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Property Id : 25778
Price: $ 620,000
Bedrooms: 18
Building size: 0.46 acres
Available Space: 13732 sq.ft.
Active Openhouse Count: 0
Architecture Level: 2 Story
Assessment: 0
Building Area Source: Appraiser
Business Type: Recreational
CDOM: 13
Commercial Exterior Features: Awning/Overhang(s)
Commercial Type: Apartments
Commercial Utilities: ENERGY STAR® Qualified Light Fixture(s),ENERGY STAR® Qualified Window(s),Intercomm,Security Alarm
Construction Materials: Brick
County Or Parish: Wayne
Current Use: MULTI-FAMILY RESIDENTIAL
Directions: SOUTHFIELD FREEWAY TO JOY RD, EAST ON JOY RD, SOUTH SIDE OF THE STREET
Directions From EastWest: E
Directions From EastWest Detail: GREENFIELD
Directions From NorthSouth: S
Directions From NorthSouth Detail: JOY RD
Distance To Airport: 15
Distance To Interstate: 1
Distance To Rail: 3
Distance To Waterway: 9
DOM: 13
Exterior Features: Private Entry
Foundation Details: Basement
Foundation Materials: Poured
Frontage Feet: 200
Gross Scheduled Income: 107090.00
Heating: Hot Water,Window/Wall Unit
Heating Fuel: Natural Gas
Last Change Type: New
List Office Name: RE/MAX New Trend
List Price By Acre: 1347826.0870
Lock Box Type: Appointment
Lot Size Dimensions: 200.00 X 100.00
MLS: Realcomp II Ltd
MLS Area Major: Det 6-Tire - Grnfld - Livernois
MLS Area Major Number: 05042
MLS Number: 219091529
Monthly Sales: 8900
Annual Net Income: 53571.00
Number Of Units Total: 18
Operating Expense: 53519.00
Original List Price: 620000.00
Ownership Status: Corporate/Relocation,Short Sale - No
Parcel Number: W22I002205C14
Percent Leased: 100
Postal City: Detroit
Postal Code Plus 4: 5616
Property Type: Commercial
Protection Period: 180
Rent Includes: Garbage Pickup,Heat,Snow Removal,Water/Sewer
Road Frontage Type: Pub. Sidewalk
Roof Material: Asphalt
Room Count: 0
School District: Detroit
Settlement: City
Sewer: Sewer-Sanitary
Short Sale: No
State Equalized Value: 154700.0000
Street Name: JOY
Street Number: 14725
Street Suffix: Road
Subdivision Name: OBENAUER-BARBER-LAING ORCHARD BLVD SUB (PLATS)
Table: Commercial
Taxable Value: 130884.0000
Tax Amount Summer: 10177.0000
Tax Amount Winter: 1241.0000
Tax Legal Description: S JOY RD 193 THRU 184 OBENAUER-BARBER-LAING ORCHARD BLVD SUB L46 P90 PLATS, W C R 22/544 200 X 100
Title: Corporate/Relocation
Total Tax: 11418.0000
Unit Count: 3
Unit Efficiency Number Of: 0
Unit Four Bed Number Of: 0
Unit Loft Number Of: 0
Unit One Bed Number Of: 13
Unit Three Bed Number Of: 0
Unit Two Bed Number Of: 5
Water Heater Fuel: Natural Gas
Water Source: Municipal Water
Year Built: 1964
Zoning: Multi-Family
Airport: Yes
APOD Available: Yes
Customer Comment: Yes
Encroachment: No
Exclusions: No
Existing Lease: No
Interstate: Yes
Inventory Included: Yes
Inventory List: Yes
Land Contract: No
Legal Rental Certified: Yes
Publish Sale Price: Yes
Railroad: Yes
Restrictions: No
Waterfront: No
Waterway: Yes
Zone Conform: Yes
IDX provided courtesy of Realcomp II Ltd., via RE/MAX New Trend and Realcomp, © 2021 Realcomp II Ltd. Shareholders.

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