Insane! A 200 unit complex on sale for $350,000. The building is almost twice the size of the Packard building. It's close to Wayne State University, the Pistons practice facility and headquarters and the Michigan Science Center. The building also qualifies toward federal historical tax credits. The building is also 15 stories high.
https://www.loopnet.com/Listing/2240-225.../10930970/
Here is a smaller apartment complex that has 27 units and 48,000 sq ft and is on the market for a little under $400,000. The description says that has a cash flow of almost $27,000 per month.
https://www.loopnet.com/Listing/3931-McG.../13310697/
https://www.loopnet.com/Listing/2240-225.../10930970/
Here is a smaller apartment complex that has 27 units and 48,000 sq ft and is on the market for a little under $400,000. The description says that has a cash flow of almost $27,000 per month.
https://www.loopnet.com/Listing/3931-McG.../13310697/