8207 Schaefer is a $2,000,000, 28,406 square foot, 40.0 bath home on a 0.62 acre lot located in Detroit, MI.
Renovated 40-unit brick apartment complex (four 2-story connected buildings with10 units in each building) with 36 1-bed 1-bath and 4 2-bed 1-bath situated on a 27,007 sf site. Leases negotiable upside increase to market rents, includes some Section 8, stabilized NOI $170,403, current occupancy 80%. Nice curb appeal high demand building near Dearborn. Two Boilers and roof updated, environmental clear, rear parking lot for tenants, security system. Property manager in place keep or self-manage. Ideal opportunity for cash buyer or bank financing.
|Above Grade Sqft||28,406|
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