Listed by Berkadia Commercial Mortgage Southfield
$1,520,000
Pembrooke Manor
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 24,500
Units 35
Cap Rate 8.00%
Price per SqFt $62
Year Built 1966
Stories 3
Investment Type Value Add
Multifamily | 35 Units | $45,714/unit
Investment highlights
• Well-Maintained Asset: Strong, consistent occupancy and strategic improvements support durable cash flows.
• Efficient Operations: Smaller scale enables efficient self-management and reduced operating costs.
• Attractive Financing: Size and configuration are ideal for small balance agency or bank financing.
• Prime Location: Minutes from downtown Detroit with direct access to freeways and public transit.
• Market-Proven Value: Recent local sales and rent comps underpin asset value and investor confidence.
• Upside Opportunity: Reduce loss-to-lease by increasing effective rents to market, with further NOI lift from separately billing utility reimbursements (owner-paid utilities except electricity).
Listing Contacts
Listed by Berkadia Commercial Mortgage Southfield
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