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23740 Fenkell ST, Detroit, MI 48223

Local realty services provided by:CENTURY 21 Affiliated
23740 Fenkell ST,Detroit, MI 48223
$7,000,000
  • 131 Beds
  • 138 Baths
  • 67,608 sq. ft.
  • Multi-family
  • Active
Listed by: justin zehel
Office: keller williams paint creek
MLS#:58050198321
Source:MI_REALCOMP

Price summary

  • Price:$7,000,000
  • Price per sq. ft.:$103.54

About this home

Well-maintained 138-unit brick apartment community located in a highly desirable area of Detroit, just off Telegraph Road on Fenkell Road. This stabilized asset consists of three buildings and is currently 98% occupied, offering strong in-place cash flow. The property operates at an attractive 10% cap rate with additional upside through modest rent increases, providing a clear value-add opportunity. The community is gated and features laundry facilities in each building. Hallways and a majority of units have been updated, contributing to tenant appeal and reduced turnover costs. Major systems have been well cared for, including boilers in excellent condition and a brand-new flat roof. With no immediate capital expenditures required, this is a turnkey investment ideal for both first-time multifamily investors and seasoned buyers looking to expand their portfolio.

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Home facts

  • Year built:1967
  • Listing ID #:58050198321
  • Added:1 day(s) ago
  • Updated:January 28, 2026 at 01:54 AM

Rooms and interior

  • Bedrooms:131
  • Total bathrooms:138
  • Full bathrooms:138
  • Living area:67,608 sq. ft.

Heating and cooling

  • Heating:Natural Gas, Separate Meters, Steam

Structure and exterior

  • Year built:1967
  • Building area:67,608 sq. ft.
  • Lot area:2.34 Acres

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$7,000,000
  • Price per sq. ft.:$103.54
  • Tax amount:$105,404
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