MI
Wayne
Detroit City
48228
15860 Joy Road
15860 Joy Road, Detroit City, MI 48228
Share Listing
Listing Type
Multi Family
Listing Status
active
99
$4,500,000

Home Details for 15860 Joy Road

Price
$4,500,000
Type
Residential Income
Bedrooms
96
Bathrooms
60.0
Square feet
84557
Year built
1951
Lot size acres
1.72
County
Wayne
Garage
Basement
Finished, Full
Days on site
38
MLS Listing#
20251050723
Property Description

WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT HAS BEEN RENTED TO SECTION 8 TENANTS,THE MONTHLY DIVIDENDS ARE JUST UNDER $50,000 A MONTH AND ARE PAID BY THE FEDERAL GOVERNMENT. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

Property Features
  • Heating Information
    • Forced Air
    • Natural Gas
  • Basement
    • Finished
    • Full
  • Cooling Information
    • None
  • Water Features
    • Public
Listing Courtesy: KW Domain - 248-590-0800
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EXIT UNITED REALTY PROFESSIONALS
611 W. Nine Mile Rd, Ferndale, MI 48220
Office
248 677 3220
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