Harding Real Estate Team
BEDS0
BATHS8 full
SQUARE FEET7,600
MLS#20261058360
STATUS(Short Sale) - Active
PROPERTY TYPEMulti Unit - Multiple
SCHOOLSouthfieldPublicSchools
Property Description
Chestnut Oaks is an 8-unit, fully occupied garden-style apartment community in Southfield offering a turnkey multifamily investment opportunity. Built in 1986, the property spans two 2-story buildings totaling approximately 7,600 SF on a 0.70-acre lot, zoned RM. Unit mix includes four 1BR/1BA units (850 SF) and four 2BR/1BA units (1,050 SF), each featuring in-unit washer/dryer. Masonry construction, natural gas and wall furnace heat, and 14 parking spaces (2.00/unit). Landlord pays water and trash; tenants pay electric. Professionally managed by Silverside Management with strong historical occupancy. Current NOI of $92,517 reflects a 6.73% cap rate on the $1,375,000 asking price ($171,875/unit), with upside to a pro forma NOI of $93,429 (6.79% cap rate) through market rent adjustments. Convenient location near W 11 Mile Rd and Marshall St with easy access to major Southfield corridors. Property is tenant-occupied; showings by appointment only. Contact listing agent for financial package and additional details.
Property Features
Property Type: Multi Unit - Multiple
Basement: Full, Unfinished
Basement: Yes
Heating: Natural Gas, Wall Furnace
Home Style: Common Entry Building
Lot Size: 0.77 Acres
Stories: 2.0
Taxes: $16,378
Year Built: 1986
Feature Descriptions
Days on Site: 9
Exterior: Block
Laundry: In Unit
Lot Dimensions: 100 x 305
Parcel#: 2424226003
Pets Allowed: Call
Sewer: Public Sewer
Summer Tax: 12977
Units: 8
Water: Public
Winter Tax: 3401
Local Schools
School District: SouthfieldPublicSchools
Listed By / Shown By
Listed By
Agency Name: Greater Development LLC
Agency Phone: 3132092900
Shown By
Agent Name: Harding Real Estate Team
Agent Phone: (734) 812-6900
Agency Title: Key Realty
Estimate Your Payment
Estimated Payment
$ 9,457.23 per month $7,691.36 Principal & Interest $1,364.83 Property Tax $401.04 Homeowner's InsuranceChange Payment Information
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Agent License Information: Brokerage/Company License Number: MI-65-05366134
15925 W 11 Mile Road | MLS# 20261058360
This multi-family property located at 15925 W 11 Mile Road, Southfield, Mi 48076 is currently listed for sale with an asking price of $1,375,000. W 11 Mile Road is located within the SouthfieldPublicSchools school district. Search Southfield real estate on www.hardingrealestateteam.com today.