300 Whitmore Rd Detroit, MI 48203

This exceptional investment opportunity presents a portfolio of 14 apartment buildings totaling 506 units, situated in Detroit and Highland Park, Michigan's historic Palmer Park district. Originally constructed between 1924 and 1953, these buildings, listed on the historic register, offer significant value-add potential. The portfolio boasts over 500,000 square feet of space, with units ranging from one to two bedrooms, featuring full baths, family rooms, and basic appliances (refrigerator, range, garbage disposal). Coin-operated laundry facilities are available on-site, and utilities (gas, heat, and water) are included. Currently undergoing renovations to boost occupancy and tenant satisfaction, this portfolio benefits from a proactive local government committed to revitalization efforts, including the "Project Green Light" initiative, enhancing resident security through a connected camera system. The prime location, across from Palmer Park and minutes from downtown Detroit, offers strong potential for increased rental income and property appreciation. The asking price is $21,000,000, representing a price per unit of $41,501.98. This is a rare chance to acquire a substantial multifamily portfolio in a rapidly developing area. The buildings are five stories high and are located at various addresses in Detroit and Highland Park, MI, zip code 48203. This is a value-add investment opportunity with significant upside potential.