The Kirkwood Apartments

Sold | $1,645,000

Detroit, MI | Units: 26 | Price Per Unit: $63,269 | Avg Sq Ft: 777 | GRM: 8.16 | DSC: 1.41 | Year 1 ROI: 7.64% | Listing Agent: Jason Gardner

Location

Executive Summary

The Kirkwood is a 3-story, low-rise apartment building located in The Midtown area, off Seward St. just west of John C Lodge Freeway, and just north of W. Grand Blvd in Detroit, Michigan. The Kirkwood consists of 19 two-bed/one-bath units (750 sq.ft.), and 7 three-bed/one-bath units (850 sq. ft.) totaling 26 units. The Kirkwood was built in 1916 and most recently renovated in 1986. All units have their own tenant paid gas air-forced furnaces and hot water tanks. This property offers itself to an incredible Midtown location that is just blocks North of the Henry Ford Hospital, and a very short distance to the Fisher Building and Wayne State University Campus.