18401 Joy Road Detroit, MI ^$ 1,399,900

18401 Joy Road

^$ 1,399,900

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18401 Joy Road

Detroit, MI, 48228

^$ 1,399,900

Studio Baths0.0 Sq 15,392

Monthly Estimate*

^$ 9,304

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Studio

Commercial Property for sale in Detroit, MI

for $1,399,900. This 15,392 square foot building was built in 1972 on a lot size of 0.48.

The property is an income producing 29-unit apartment building located on the West side of the city Detroit, Michigan. The property is positioned in the Warrendale Neighborhood, off Joy Rd just West of the Southfield Freeway. Penrod Faust consists of two buildings, with parking spaces on the side and back of the building. There are 29 units that are all 1 bedroom 1 bath, approximately 630 square feet. They heavy lifting is finished!!! Come in set your rents, fill your units and watch the cash flow in. The property is 80% occupied charging over $21,600 per month in gross potential rent. Of the 29 units - 12 units have been turned with light renovations. Rooms/room sizes are estimated and should be verified by the buyer/buyer's agent.

Commercial Pending

Price

^$ 1,399,900

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 27,994

Style

Business

Lot Size

0.48

Year Built

1972

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

70391655

Features

General

Heating Forced Air

Roof Rubber

Water Public Water

Status Pending Pending

Year Built 1972

County Wayne

Class COM/IND/BUS OPP

Type Business

Percent Ownership Corporation

Municipality Detroit

Subdivision MI

Commercial Features Cable Internet Installed

Area Detroit (82001)

Primary City Detroit

Directions Southfield freeway to Joy road head west on Joy building is on the south side of the road

City Detroit

Street Name Joy

Financial Terms Cash Conventional

Legal Description BLK:105 DIST:01 CITY/MUNI/TWP:DETROIT CITY S JOY RD 13 THRU 4 MONDALE PARK SUB L49 P15 PLATS W C R 22/261 210 X 100

DOM 71

Postal Code 48228

Price Per Sq Ft Total 90.95

Coming Soon The property is an income producing 29-unit apartment building located on the West side of the city Detroit Michigan. The property is positioned in the Warrendale Neighborhood

Exterior

Exterior Block Brick

Frontage 60

Lot Size Area 0.48

Lot Dimensions 210.00 x 100.00

Waterfront Y/N No

Interior

Fuel Type Natural Gas

* Excluded Features

List By

Bryan Redmond

Listing Agent

Berkshire Hathaway Homeservice

Broker

bredmondjr@gmail.com

Affordability Calculator

$11,637

Per Month

Monthly Principal & Interest: $9,304
Monthly Property Taxes: $2,333
Monthly Home Insurance: --

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Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Detroit, MI

Average List Price ^$485,469

Percent of Sale Price 65%

About Detroit, MI

633,657 Population

-33% Since 2002

^$26,977 Median Income

36.23 Median Age

26% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

760529 Elementary School

760235 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/1/2024	$1,399,900		Listed Price

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18401 Joy Road, Detroit, MI, 48228 is a Commercial Property for sale at $1,399,900 with 15,392 sqft and a lot size of 0.48. 18401 Joy Road is a studio with 0.0 baths and was built in 1972. The property's zip code is 48228 which is in Detroit, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

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18401 Joy Road

Commercial Property for sale in Detroit, MI

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