12
See all 12 photos
$1,375,000
Est. payment /mo
8 Baths
7,600 SqFt
New
15925 W 11 Mile RD Southfield, MI 48076
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Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 7,600 sqft
Price per Sqft $180
MLS Listing ID 20261058360
Style Common Entry Building
Full Baths 8
Year Built 1986
Lot Size 0.770 Acres
Acres 0.77
Property Sub-Type MultiFamily
Property Description
Chestnut Oaks is an 8-unit, fully occupied garden-style apartment community in Southfield offering a turnkey multifamily investment opportunity. Built in 1986, the property spans two 2-story buildings totaling approximately 7,600 SF on a 0.70-acre lot, zoned RM. Unit mix includes four 1BR/1BA units (850 SF) and four 2BR/1BA units (1,050 SF), each featuring in-unit washer/dryer. Masonry construction, natural gas and wall furnace heat, and 14 parking spaces (2.00/unit). Landlord pays water and trash; tenants pay electric. Professionally managed by Silverside Management with strong historical occupancy. Current NOI of $92,517 reflects a 6.73% cap rate on the $1,375,000 asking price ($171,875/unit), with upside to a pro forma NOI of $93,429 (6.79% cap rate) through market rent adjustments. Convenient location near W 11 Mile Rd and Marshall St with easy access to major Southfield corridors. Property is tenant-occupied; showings by appointment only. Contact listing agent for financial package and additional details.
Location
State MI
County Oakland
Area Area02244Southfield
Rooms
Basement Full, Unfinished
Interior
Heating Natural Gas, Wall Furnace
Fireplace No
Laundry InUnit
Exterior
Pool None
View Y/N No
Garage false
Building
Foundation Basement, Block
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Southfield Public Schools
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
Pets Allowed Call
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Listed by Brady Williams of Greater Development LLC
NEARBY SCHOOL & BUSINESS
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