Log In/Sign Up
Your email has been sent.
Neff Lane Apartments 516 Neff Ln 20 Unit Apartment Building $5,542,663 CAD ($277,133 CAD/Unit) 5.45% Cap Rate Grosse Pointe, MI 48230
INVESTMENT HIGHLIGHTS
- Recent Capital Improvements completed to a portion of the units and building systems
- Attractive Suburban Location in a supply-constrained rental market
- 20-Unit Multifamily Community in the highly desirable Grosse Pointe submarket
- Value-Add Upside through continued interior renovations and rent growth
- Ample On-Site Parking and well-maintained common areas
EXECUTIVE SUMMARY
Exceptional opportunity to acquire a well-located 20-unit multifamily asset in the heart of Grosse Pointe, one of Metro Detroit’s most desirable and supply-constrained rental markets. This stabilized community offers immediate cash flow with significant upside through continued rent growth and value-add execution.
The property features a strong unit mix with spacious floor plans, well-maintained interiors, and a history of high occupancy. Current ownership has completed substantial capital improvements in recent years, including renovations to a portion of the units, allowing a new owner to continue implementing a proven renovation and rent-increase strategy.
Situated in a premier residential setting near the waterfront, top-rated schools, retail, dining, and major employment corridors, the property benefits from consistent tenant demand and long-term market stability. Grosse Pointe’s limited multifamily inventory and strong demographic profile create a compelling environment for sustained rental growth and asset appreciation.
With in-place income, professional management history, and clear value-add potential, this offering is ideal for investors seeking a stabilized asset with both immediate yield and long-term upside in a premier suburban market.
The property features a strong unit mix with spacious floor plans, well-maintained interiors, and a history of high occupancy. Current ownership has completed substantial capital improvements in recent years, including renovations to a portion of the units, allowing a new owner to continue implementing a proven renovation and rent-increase strategy.
Situated in a premier residential setting near the waterfront, top-rated schools, retail, dining, and major employment corridors, the property benefits from consistent tenant demand and long-term market stability. Grosse Pointe’s limited multifamily inventory and strong demographic profile create a compelling environment for sustained rental growth and asset appreciation.
With in-place income, professional management history, and clear value-add potential, this offering is ideal for investors seeking a stabilized asset with both immediate yield and long-term upside in a premier suburban market.
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Third Party Reports
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $5,542,663 CAD | Building Class | B |
| Price Per Unit | $277,133 CAD | Lot Size | 0.97 AC |
| Sale Type | Investment | Building Size | 20,000 SF |
| Cap Rate | 5.45% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | Parking Ratio | 1.29/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R-T MULTI-FAMILY RESIDENT - R-T MULTI-FAMILY RESIDENTIAL | ||
| Price | $5,542,663 CAD |
| Price Per Unit | $277,133 CAD |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.97 AC |
| Building Size | 20,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 1.29/1,000 SF |
| Zoning | R-T MULTI-FAMILY RESIDENT - R-T MULTI-FAMILY RESIDENTIAL |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Microwave
- Heating
- Kitchen
- Range
- Tub/Shower
- Yard
SITE AMENITIES
- Bicycle Storage
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 20 | $2,289 CAD | 800 |
1 1
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 37-004-99-0009-000 | Total Assessment | $1,119,776 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
37-004-99-0009-000
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$1,119,776 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
1 of 48
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Pinnacle Plus Realty LLC
Neff Lane Apartments | 516 Neff Ln
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.