Listed by AQRE Advisors
$2,677,078
Leroy Apartments
Details
APN 14-18-353-027, 14-18-354-028
Property Type Multifamily
Sub Type Apartment Building
Square Footage 13,688
Units 36
Cap Rate 8.25%
NOI $220,859
Occupancy 94%
Tenancy Multi
Year Built 1956
Year Renovated 2025
Buildings 6
Stories 1
Acreage 0.720
Parking Spaces 38 spaces
Parking Per SqFt 2.78
Investment Type Value Add
Multifamily | 8.25% CAP | 36 Units
Marketing description
Roseville is a well-established suburb of Detroit located in Macomb County, strategically positioned along key regional transportation and retail corridors. The city offers strong accessibility to major employment centers throughout Metro Detroit, including Warren, Sterling Heights, and Downtown Detroit. Roseville's central location, combined with its established residential base, supports consistent renter demand and long-term housing stability.
Investment highlights
- Value-add Opportunity with Continued Renovations: 50% of the units have been updated, demonstrating proven rent lifts. Remaining classic units present a high-impact, low-cost renovation strategy that can be executed immediately to drive further rent increases without major capital expenditures.
- Immediate Income Stream: The asset is currently stabilized and cash-flowing, offering investors in-place income from day one with the ability to organically grow returns through strategic upgrades and renewed management efficiencies.
- Desirable Unit Mix & Amenities: The community consistently attracts a broad spectrum of renters, from young professionals to small families. Functional floorplans, abundant natural light, and practical on-site conveniences; such as dedicated parking, controlled building entry, and well-maintained outdoor common areas, create a comfortable living environment that supports high occupancy and strong resident satisfaction.
- Proximity to Major Employment & Education: Located minutes from major regional employers such as the Macomb Mall corridor, Detroit Medical Center, General Motors Tech Center, and the broader I-94 employment axis. The site also benefits from its proximity to local schools, colleges, and training centers.
Listing Contacts
Listed by AQRE Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$220,859.00
$18,404.92/mo
Valuation Metrics
0
DSCR
8.25%
Cap Rate
8.25%
ROI
Map
Zoning
RM-1 ResidentialMulti FamilyMultiple Family Residential
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View all 17 uses
View all 17 uses Last updated Jun 1, 2026 For deeper zoning details, reports are available at Zoneomics
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