Neff Lane Apartments
Multifamily | 20 Units | $199,750/unit
Marketing description
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.
Investment highlights
20-Unit Multifamily Community in the highly desirable Grosse Pointe submarket
Stabilized Asset with consistent occupancy and in-place cash flow
Value-Add Upside through continued interior renovations and rent growth
Strong Unit Mix with spacious floor plans and functional layouts
Recent Capital Improvements completed to a portion of the units and building systems
Below-Market Rents on select units provide immediate upside potential
Attractive Suburban Location in a supply-constrained rental market
Proximity to Waterfront, Downtown Grosse Pointe, Retail, Dining & Parks
Excellent School District supporting long-term tenant demand
Ample On-Site Parking and well-maintained common areas
Professionally Managed with clean operating history
Ideal for Core-Plus or Value-Add Investors seeking stable income with growth potential
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