20551-20555 Lahser Rd | Detroit, MI 48219
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20551-20555 Lahser Rd
Detroit, MI 48219
Terrace Court Apartments · Multifamily Property For Sale
·
72 Units
INVESTMENT HIGHLIGHTS
- Two (2) two-story buildings with a unit mix of (56) one-bedroom and (16) two-bedroom apartments with average size ranging from 750 to 800 square feet.
- Value-add opportunity with an occupancy around 70%
- The property received a full renovation in 2019 and 2020, including receiving some new bathrooms, updated plumbing, some new kitchens, and much more.
- Major nearby employers include General Motors, Ford, Stellantis North America, Quicken Loans, Ally Financial, Compuware, Shinola, and more.
PROPERTY FACTS
| No. Units | 72 | Building Size | 54,800 SF |
| Property Type | Multifamily | Average Occupancy | 71% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1961/2020 |
| Building Class | C | Parking Ratio | 1.35/1,000 SF |
| Lot Size | 1.97 AC | ||
| Zoning | B4 - General Business District | ||
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.97 AC |
| Building Size | 54,800 SF |
| Average Occupancy | 71% |
| No. Stories | 2 |
| Year Built/Renovated | 1961/2020 |
| Parking Ratio | 1.35/1,000 SF |
| Zoning | B4 - General Business District |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Disposal
- Heating
- Security System
- Kitchen
- Oven
- Sprinkler System
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Public Transportation
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 56 | - | - |
| 2+1 | 16 | - | - |
PROPERTY TAXES
| Parcel Number | 22-11-360-00-02L | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,238,800 |
PROPERTY TAXES
Parcel Number
22-11-360-00-02L
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,238,800
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