Listed by NAI Farbman Southfield, NAI Farbman
Unpriced
REO - Maxwell Street Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 8,037
Units 12
Occupancy 50%
Year Built 1927
Buildings 1
Stories 2
Investment Type Value Add
Occupancy Date 11/30/2025
Ownership REO
12 Units
Marketing description
NAI Farbman is pleased to present the exclusive offering of and REO, 12-unit, two-story, brick multifamily building located at 8525 Maxwell Street. The Maxwell Apartments are on a quiet street that sits near the border of Detroit and the east side of Hamtramck. The property has had recent, significant capital improvements, positioning it as an ideal light value-add investment. This REO property was previous owned by an out-of-town owner that took their attention away from the property.
Investment highlights
- Significant Capital Expenditure Completed: 12 units have been renovated, including new cabinets, flooring, toilets, tubs, vanities, and electrical fixtures. The building further benefits from recent major systems upgrades, including a roof replacement (5-6 years old), new windows/gutters, new electrical panels/service, and new gas lines/plumbing to the street.
- Potential for 2 additional units in lower level which were started but not completed, or this space can be added storage for the tenants or owner.
- Revenue In-Place: The property currently has 7 residents, giving the next owner cash flow to build on as they fully stabilize the property.
- Favorable Expense Structure: Tenants pay for both Gas and Electric utilities. Landlord responsibilities are limited to Water/Sewer and Trash.
- Unit and Site Amenities: The property features a unit mix of twelve (12) 2-bedroom/1 bath (600 SF average) units. Added value comes from laundry hookups located in the basement and the inclusion of an adjacent lot for potential additional off-street parking.
Listing Contacts
Listed by NAI Farbman Southfield, NAI Farbman
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Zoning
R2 ResidentialTwo FamilyTwo Family Residential District
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View all 268 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
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