23740 Fenkell St Detroit, MI 48223
Brightmoor NeighborhoodEstimated payment $44,854/month
About This Home
Pilot Program accepted through the City of Detroit!! 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. Seller has done numerous amounts of upgrades and remodeling to the property in the past couple of years. 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. Property has Certificate of Compliance good through 2027
Listing Agent
Keller Williams Paint Creek License #MISPE-6501397844 Listed on: 01/27/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
Year Built
- Built in 1967
Bedrooms and Bathrooms
- 131 Bedrooms
- 138 Full Bathrooms
Utilities
- Boiler Heating System
- Separate Meters
Additional Features
- 2-Story Property
- 2.34 Acre Lot
- Basement
Community Details
- 138 Units
- More Than One Legal Involved Subdivision
Listing and Financial Details
- Assessor Parcel Number 22011098-9
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/25/2026 03/25/26 | Price Changed | $650 | 0.0% | $1 / Sq Ft |
| 03/05/2026 03/05/26 | Price Changed | $6,750,000 | -3.6% | $100 / Sq Ft |
| 01/27/2026 01/27/26 | For Sale | $7,000,000 | 0.0% | $104 / Sq Ft |
| 10/16/2025 10/16/25 | Price Changed | $645 | +48.3% | $1 / Sq Ft |
| 08/12/2025 08/12/25 | For Rent | $435 | -- | -- |
Source: Michigan Multiple Listing Service
MLS Number: 50198321
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Source MLS: MiRealSource
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