Log In/Sign Up
Your email has been sent.
La Salle Manor 13535 La Salle Blvd 19 Unit Apartment Building $1,251,508 CAD ($65,869 CAD/Unit) 12.22% Cap Rate Detroit, MI 48238
Investment Highlights
- The Lasalle Apartments offer a turnkey multifamily investment with recent renovations to the common areas and all the units.
- Located in Detroit’s La Salle Corridor, the community is just off Highway 8 and five minutes from Highway 10 and Interstate 96.
- Crucial upgrades to the community include a new boiler, common area and unit renovations, and many other capital upgrades totaling $250,000.
- All 19 Units are separately metered for electricity and are actively being leased out, with a potential proforma cap rate of 11%.
- An investor will enjoy the significant opportunity to increase the resident base and expand monthly revenue.
Executive Summary
EXP Commercial invites qualified investors to seize the rare opportunity to acquire a value-add multifamily community with recently renovated units at the Lasalle Apartments. This well-maintained, brick-construction building offers 19 units with a prime location in North Detroit’s Highland Park neighborhood. With strong financials and a proforma cap rate of 11%, this opportunity provides a high-yield, turnkey investment.
The Lasalle Apartments comprise ±11,075 square feet originally built in 1929. All units in the community have been extensively renovated in recent years. The unit mix consists of (14) one-bedroom units, (1) two-bedroom units, and (4) studio units, providing attractive options for both professionals and families. All the tenants are in great standing with management, and management is offering a one- or two-year transition management agreement to the new investor.
Capital improvements to the property exceed $250,000 and include refreshed hallways and common areas, a new boiler, a newer Spanish clay tile roof, and newer windows. Additionally, all the units are individually metered for electricity.
Sitting just off Highway 8 and only five minutes from Highway 10 and Interstate 96, the Lasalle Apartments are easily accessible from around the greater metro area. Tenants can find shopping and dining options within five minutes, including Dollar General, White Castle, KFC, Little Caesars Pizza, and Atlas Market. Additionally, the property sits 11 minutes from Downtown Detroit, providing an endless array of top-quality restaurants, boutique shops, nightlife, and major league sports venues.
The Lasalle Apartments comprise ±11,075 square feet originally built in 1929. All units in the community have been extensively renovated in recent years. The unit mix consists of (14) one-bedroom units, (1) two-bedroom units, and (4) studio units, providing attractive options for both professionals and families. All the tenants are in great standing with management, and management is offering a one- or two-year transition management agreement to the new investor.
Capital improvements to the property exceed $250,000 and include refreshed hallways and common areas, a new boiler, a newer Spanish clay tile roof, and newer windows. Additionally, all the units are individually metered for electricity.
Sitting just off Highway 8 and only five minutes from Highway 10 and Interstate 96, the Lasalle Apartments are easily accessible from around the greater metro area. Tenants can find shopping and dining options within five minutes, including Dollar General, White Castle, KFC, Little Caesars Pizza, and Atlas Market. Additionally, the property sits 11 minutes from Downtown Detroit, providing an endless array of top-quality restaurants, boutique shops, nightlife, and major league sports venues.
Property Facts
| Price | $1,251,508 CAD | Building Class | C |
| Price Per Unit | $65,869 CAD | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 11,075 SF |
| Cap Rate | 12.22% | Average Occupancy | 50% |
| No. Units | 19 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1929/2024 |
| Property Subtype | Apartment | Parking Ratio | 2.26/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | Commercial, Multi-Family - Commercial, Multi-Family, Residential, Apartment | ||
| Price | $1,251,508 CAD |
| Price Per Unit | $65,869 CAD |
| Sale Type | Investment |
| Cap Rate | 12.22% |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 11,075 SF |
| Average Occupancy | 50% |
| No. Stories | 3 |
| Year Built/Renovated | 1929/2024 |
| Parking Ratio | 2.26/1,000 SF |
| Zoning | Commercial, Multi-Family - Commercial, Multi-Family, Residential, Apartment |
Amenities
- Smoke Detector
Unit Amenities
- Balcony
- Washer/Dryer
- Heating
- Security System
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Wi-Fi
- Basement
- Dining Room
- Handrails
- Loft Layout
- Window Coverings
Site Amenities
- Controlled Access
- Fenced Lot
- Laundry Facilities
- Property Manager on Site
- Security System
- Wi-Fi
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $1,182 CAD | 550 |
| 1+1 | 15 | $1,252 CAD | 600 |
| 2+1 | 1 | $1,321 CAD | 650 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 10-008797 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $568,330 CAD |
Property Taxes
Parcel Number
10-008797
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$568,330 CAD
1 of 38
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
La Salle Manor | 13535 La Salle Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.