Contacts

Ferris Hamama

Keystone Commercial Real Estate

Property Details

Property Type Multi-Family
Property Size 108,271 SF
Units 138
Lot Size 2.34 Acre
Additional Rent Contact for pricing
Property Tenancy Multi-Tenant
Year Built 1967
Date Updated Dec 3, 2024

Located on the north side of Fenkell Avenue just east of Telegraph Road.PARKSIDE APARTMENTS - A Prime Investment Opportunity in Detroit, MI! Discover the incredible potential of Parkside Apartments, located at 23740 Fenkell Ave, Detroit, MI 48223. This multi-family complex spans an impressive 108,271 square feet, offering 138 units situated on a spacious 2.34-acre lot. With a sale price of $6,730,000 and a cap rate of 6.27%, this property presents a fantastic opportunity for investors seeking attractive returns. The units feature various layouts, including studios, 1-bedroom, and 2-bedroom options, providing diverse rental income potential. Parkside Apartments boast numerous amenities, including refurbished roofs, separate electric and gas meters, and a secure gated entry, ensuring convenience and security for residents. The property's strategic location offers easy access to nearby amenities, transportation, and employment opportunities. Furthermore, the demographic profile of the area reveals a population of over 325,000 within a 5-mile radius, with an average household income of $51,072. This thriving community presents a promising market for potential tenants or buyers. Don't miss out on this exceptional investment opportunity! Contact Ferris Hamama at 248.406.7116 or [email protected] for additional information. Visit our website at www.keystonecres.com to explore more about Parkside Apartments and start capitalizing on this prime real estate investment in Detroit today!

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Highlights

Refurbished roofs
Separate electric and gas meter
Gated entry

Attachments

OM_Detroit_ParksideApartments_23740FenkellAve (PDF) opens in new window

Getting around

48/100
Walk Score ®
30/100
Transit Score ®
54/100
Bike Score ®

Powered by Walk Score ®

City Detroit, MI
Neighborhood Redford
Zip Code 48223
Market Detroit

Points of Interest

CDM Transport LLC

4.57 miles
Dearborn

6.76 miles
Smith's Creek Depot Station

6.84 miles
Firestone Station

6.96 miles
Walnut Grove Station

6.97 miles
Royal Oak

8.88 miles

BP

0.15 miles
Sunoco

0.38 miles
RP Fuel

0.48 miles
Marathon

0.71 miles
Citgo

0.75 miles
Mobil

0.95 miles
Clark

0.96 miles
Livonia, MI Supercharger

3.22 miles
Bosch

7.47 miles
Charging Station at Westland City Hall

7.67 miles

Vistor Parking Lot B

2.92 miles
Vistor Parking Lot A

2.93 miles
Parking Lot C

2.95 miles
Parking Lot D

2.97 miles
Parking Lot E

3.03 miles
Parking Lot G

3.06 miles
Parking Lot H

5.08 miles
MRC parking lot

5.08 miles
Parking Lot A

5.17 miles

Inn America

0.70 miles
Riviera Motel Detroit

1.51 miles
Royal Budget Inn

2.07 miles
Park Drive Motel

2.09 miles
Hilltop Motel

2.22 miles
Holiday Inn Express & Suites Detroit Northwest

2.45 miles
Americas Best Value Inn Livonia Detroit

2.88 miles
Hampton Inn Livonia Detroit

2.94 miles
Comfort Inn

3.13 miles
Quality Inn & Suites

4.22 miles

Meijer

1.33 miles
Old Redford Food Center

1.35 miles
International African Grocery

1.95 miles
Glory Super Market

2.04 miles
Redford Oaks

2.23 miles
Value Center

2.41 miles
Royal Fresh Market

2.53 miles
ALDI

2.55 miles
Sugar Market

2.63 miles
Apollo Market

2.64 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.