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33553684
33553683

1241-1251 E Woodward Heights Blvd, Hazel Park, MI 48030

EW
MI
Berkadia Commercial Mortgage Southfield
KD
MI 6501222578
Berkadia Commercial Mortgage Southfield
Berkadia Commercial Mortgage Southfield
JK
MI 6501336969
Berkadia Commercial Mortgage Southfield
CK
MI 6501426341
Berkadia Commercial Mortgage Southfield
CD
OH OH SAL.2016005812
Listed by Berkadia Commercial Mortgage Southfield
Unpriced
5 days on market
Updated 5 days ago
Opportunity zone

Steeple Chase Apartments

Details
APN 28-25-25-251-010; 28-25-25-251-011
Property Type Multifamily
Sub Type Apartment Building
Square Footage 24,048
Units 18
NOI $270,092
Tenancy Multi
Buildings 2
Investment Type Stabilized

Multifamily | 18 Units

Marketing description

Steeple Chase represents an exceptional investment opportunity for a new construction multifamily community consisting of 18 units. The newly built property resides in one of the fastest growing submarkets in Michigan (Southeast Oakland County), equating to a significant opportunity for a new investor to plant their flag in the desirable Southeast Michigan Market. The property offers four different two-bedroom, two-bath contemporary floor plans with more than 1,336 SF of living space and an attached one-car garage in each. Unit appointments include a contemporary kitchen design with premium cabinetry and high-end granite tops, spacious and appointed baths, modern paint colors and luxury flooring throughout the main living floor area. In select units, a spiral staircase leads to the unit's master bedroom atop of its two-story townhome design.

Located in Southeast Michigan, Hazel Park sits at the intersection of the tri-county area, offering immediate access via I-75 and I-696 to Metro Detroit's businesses, attractions, sporting events and night life. The property is also located less than two miles east of downtown Ferndale. Embracing the diversity of culture and creativity, Ferndale offers an eclectic lifestyle, nightlife, and entertainment as well as a family friendly vibe with many neighborhood parks and activities promoting a more active lifestyle. The recently built Amazon Fulfilment facility to the north of Steeple Chase is the new epicenter of employment for this neighborhood, sitting adjacent to the property. Hazel Park is home to more than 16,000 residents, offering its unique, small-town charm in a lively urban setting. Friendly neighborhoods, tree-lined streets and mom-and-pop shops make up the fabric of this truly one-of-a-kind community. Hazel Park is a great place to live, work and invest in, providing Steeple Chase and its owners a solid high-performing multifamily investment with strong long-term cash flow prospects once stabilized.

Investment highlights

  • New Financing Opportunity
  • Upcoming Neighborhood in Outstanding Southeast Michigan Market
  • High Barriers to Entry Market
  • Close Proximity to Employment, Entertainment, Shopping and Healthcare

Listing Contacts

EW
MI
Berkadia Commercial Mortgage Southfield
KD
MI 6501222578
Berkadia Commercial Mortgage Southfield
Berkadia Commercial Mortgage Southfield
JK
MI 6501336969
Berkadia Commercial Mortgage Southfield
CK
MI 6501426341
Berkadia Commercial Mortgage Southfield
CD
OH OH SAL.2016005812
Listed by Berkadia Commercial Mortgage Southfield

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$270,092.00
$22,507.67/mo

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