Colonial Manor Apartments

$2,200,000

18045 & 18111 Lahser Road, Detroit, MI 48219

For Sale

Multifamily Garden Low Rise

Active

Last Updated: 03/04/2025

Details:

Cap Rate: 11.71%

NOI: $257,596

Building Size: 30,229 sqft

Lot Area: 1.46 acres

Units: 49

Year Built: 1963

Floors: 3

Offered by Broker

Jonna Group

Real Estate Investment Services

Jonna Group | Colliers

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Highlights:

30,229 SF building | 49-unit | Built 1963
Zoned R3
Significant Value-Add Potential through Strategic Upgrades and Management Efficiencies
Diverse Unit Mix: A mix of 1, 2, & 3-bedroom units across two buildings, allowing for a diversified tenant base & flexibility in rental strategies
Community and Accessibility: The property's urban location ensures convenient access to local amenities, employment centers, and transportation networks, promoting a high quality of living for residents.

Description:

Introducing a prime opportunity for Multifamily/Low-Rise/Garden investors in the Detroit area. This property features a substantial 30,229 SF building with 49 units, offering an excellent investment potential.

Discover the vibrant neighborhood surrounding the property in Detroit, MI. Located in a bustling area known for its commercial activity and dynamic business environment. Nearby, Detroit stands as a symbol of resilience, a city reborn and bustling with opportunities for exploration, making it an inviting destination for residents and visitors alike. With close proximity to major highways and just a short drive to downtown Detroit, the area is poised for growth and investment.