$ 1,375,000
-
$1,375,000
Price -
12
Bed -
8
Bath -
7,600
SqFt -
0.77
Acre
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About the Listing 377072 - 413257
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.
Listing Highlights
Interior Details
- Bedrooms: 12
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating: Wall Furnace,Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 7600
- Below Ground Sq Ft: 4320
- Basement: Unfinished
- Other: Laundry Facility,2 Story,Wall Furnace,Pets Allowed
- Water: Public (Municipal)
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 100 x 305
- Zoning: Multi-Family
- Roof:
- Others: Block,Paved
- Sewer: Sewer (Sewer-Sanitary)
Financial Details
- Tax Amount: $16,378
- Taxes w/Assessments: N/A
- Tax/Property ID: 2424226003
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
15925 W 11 Mile Rd Southfield, MI 48076
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