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30954604
30954605

18027 Hoover St, Detroit, MI 48205

CF
MI 6501358300, 6501358300
Marcus & Millichap - Detroit
JM
MI 6501446895
Marcus & Millichap - Detroit
Listed by Marcus & Millichap - Detroit
$549,000
85 days on market
Updated 45 days ago

Hoover Street Apartments

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,000
Net Rentable (SqFt) 4,356
Units 9
Cap Rate 8.77%
NOI $48,162
Occupancy 100%
Pro-Forma Cap Rate 9.5%
Pro-Forma NOI $52,168
Price per SqFt $110
Year Built 1962
Buildings 1
Stories 2
Acreage 0.220
Parking Spaces spaces
Investment Type Stabilized

Multifamily | 9 Units | $61,000/unit

Marketing description

for The Hoover Street Apartments is a 9-unit apartment complex located in Detroit, MI. The Hoover Street Apartments consists exclusively of one-bedroom units, with 100% of the units fully remodeled. Renovations include updated interiors and major appliances, positioning the property as a move in ready asset with minimal deferred maintenance and strong in-place appeal to residents seeking quality affordable housing.

The property offers a tenant-friendly amenity package, including individual apartment entrances, free on-site parking, water included in rent, and on-site trash removal. Residents benefit from a convenient location just 15 minutes from downtown Detroit, with easy access to major freeways and public bus line transportation, supporting consistent rental demand.

Investment highlights

Individual Entrances

Renovated units

Listing Contacts

CF
MI 6501358300, 6501358300
Marcus & Millichap - Detroit
JM
MI 6501446895
Marcus & Millichap - Detroit
Listed by Marcus & Millichap - Detroit

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$48,162.00
$4,013.50/mo

Valuation Metrics

0
DSCR
8.77%
Cap Rate
8.77%
ROI

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