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Nailah Commons Rowhouses 710 E Ferry St 58 Unit Apartment Building $14,339,115 CAD ($247,226 CAD/Unit) 7.89% Cap Rate Detroit, MI 48202
Investment Highlights
- Newly built in 2017
- Annual rents are going up.
Executive Summary
PRICE REDUCED!
Rare Investment Opportunity in Midtown Detroit’s Cultural Arts District – Strong Occupancy!
Introducing one of Detroit’s most exciting investment opportunities—a meticulously maintained property in the heart of Midtown Detroit’s thriving Cultural Arts District. Just steps from the world-renowned Detroit Institute of Arts, University Prep, and the College for Creative Studies, this property stands at the crossroads of culture, academia, and economic growth.
Unmatched Investment Stability with Long-Term Tax Benefits Newer construction that can not be duplicated in our market...
This development is among the first in Detroit to be accepted for the new PILOT program, ensuring stabilized property taxes for at least 15 years, with options to extend. The existing PA 210 tax abatement is set to expire, making this transition to PILOT a significant financial advantage for investors seeking predictable long-term expenses.
Why Build When You Can Invest in Proven Success?
With construction costs at an all-time high, there’s no need to take on the uncertainty of new development. This newer construction property has been expertly maintained, offering immediate cash flow and a rare opportunity for sustained profitability.
Investment Highlights:
- 100% occupancy with a waiting list, demonstrating strong tenant - in Detroit’s booming Midtown market.
- Assumable $7 million loan at 4.25% fixed interest over 15 years, with interest-only payments, ensuring maximum financial viability.
- A desirable mix of one- and two-bedroom units, each with 1.5 baths, thoughtfully designed for modern renters seeking comfort and convenience.
- Updated financials readily available, offering full transparency for investors to make informed decisions.
A Secure, High-Value Investment in One of Detroit’s Most Coveted Locations
Midtown Detroit is experiencing unprecedented demand for quality housing, fueled by its dynamic cultural scene, strong educational institutions, and economic resurgence.
Don’t miss the chance to capitalize on this rare opportunity—secure your stake in Detroit’s thriving real estate market today!
https://drive.google.com/file/d/1zRcBmTpGqt7DJxiH1CsdtAzjpHZC7279/view?ts=658c6873
https://www.nailahllc.com/
Rare Investment Opportunity in Midtown Detroit’s Cultural Arts District – Strong Occupancy!
Introducing one of Detroit’s most exciting investment opportunities—a meticulously maintained property in the heart of Midtown Detroit’s thriving Cultural Arts District. Just steps from the world-renowned Detroit Institute of Arts, University Prep, and the College for Creative Studies, this property stands at the crossroads of culture, academia, and economic growth.
Unmatched Investment Stability with Long-Term Tax Benefits Newer construction that can not be duplicated in our market...
This development is among the first in Detroit to be accepted for the new PILOT program, ensuring stabilized property taxes for at least 15 years, with options to extend. The existing PA 210 tax abatement is set to expire, making this transition to PILOT a significant financial advantage for investors seeking predictable long-term expenses.
Why Build When You Can Invest in Proven Success?
With construction costs at an all-time high, there’s no need to take on the uncertainty of new development. This newer construction property has been expertly maintained, offering immediate cash flow and a rare opportunity for sustained profitability.
Investment Highlights:
- 100% occupancy with a waiting list, demonstrating strong tenant - in Detroit’s booming Midtown market.
- Assumable $7 million loan at 4.25% fixed interest over 15 years, with interest-only payments, ensuring maximum financial viability.
- A desirable mix of one- and two-bedroom units, each with 1.5 baths, thoughtfully designed for modern renters seeking comfort and convenience.
- Updated financials readily available, offering full transparency for investors to make informed decisions.
A Secure, High-Value Investment in One of Detroit’s Most Coveted Locations
Midtown Detroit is experiencing unprecedented demand for quality housing, fueled by its dynamic cultural scene, strong educational institutions, and economic resurgence.
Don’t miss the chance to capitalize on this rare opportunity—secure your stake in Detroit’s thriving real estate market today!
https://drive.google.com/file/d/1zRcBmTpGqt7DJxiH1CsdtAzjpHZC7279/view?ts=658c6873
https://www.nailahllc.com/
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $14,339,115 CAD | Apartment Style | Townhome |
| Price Per Unit | $247,226 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 1.92 AC |
| Cap Rate | 7.89% | Building Size | 39,844 SF |
| Sale Condition | 1031 Exchange | No. Stories | 3 |
| No. Units | 58 | Year Built | 2017 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | R-3 - Residential | ||
| Price | $14,339,115 CAD |
| Price Per Unit | $247,226 CAD |
| Sale Type | Investment |
| Cap Rate | 7.89% |
| Sale Condition | 1031 Exchange |
| No. Units | 58 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 1.92 AC |
| Building Size | 39,844 SF |
| No. Stories | 3 |
| Year Built | 2017 |
| Opportunity Zone |
Yes |
| Zoning | R-3 - Residential |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Washer/Dryer
- Granite Countertops
- Refrigerator
- Stainless Steel Appliances
- Yard
- Island Kitchen
Walk Score®
Very Walkable (72)
Property Taxes
| Parcel Number | 03-00153-740 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $794,250 CAD |
Property Taxes
Parcel Number
03-00153-740
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$794,250 CAD
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Nailah Commons Rowhouses | 710 E Ferry St
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