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8207 Schaefer Highway Detroit, MI $ 2,800,000
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$ 2,800,000 Get more info
8207 Schaefer Highway
$ 2,800,000
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Share Save

8207 Schaefer Highway

Detroit, MI, 48228
$ 2,800,000
Baths40.0 Sq 28,406

Monthly Estimate*

$ 17,679

8207 Schaefer Highway, Detroit, MI 48228 - Image 1
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Studio

Multi-Family Home for sale in Detroit, MI

for $2,800,000 with 40 full baths. This 28,406 square foot home was built in 1957 on a lot size of 0.62.

NO SELLER FINANCING! Renovated 40-unit brick apartment complex (four 2-story connected buildings with 10 units in each building). There are 36 1-bed 1-bath and 4 2-bed 1-bath situated on a 27,007 sf site. Current occupancy 90%. Property is at a 10%+ cap rate with add value. Nice curb appeal, high demand building near Dearborn. Two Boilers and roof updated, newer windows. Clean environmental report. Rear and side parking lot for tenants, with a security system. Property manager in place that is transferable. Ideal opportunity for cash buyer or bank financing.

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Multi-Family Active

Price

$ 2,800,000

Bedrooms

Studio

Full Bath

40

Property Type

Multi-Family

Taxes

$ 64,580

Style

MultiFamily

Lot Size

0.62

Year Built

1957

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

58050188314
Features
General
Sewer PublicSewer
Heating NaturalGas SeparateMeters Steam
Possession AtClose
Garage Spaces 0.0
Year Built 1957
Levels Two
Property Subtype MultiFamily
County Wayne
New Construction N
Property Type ResidentialIncome
HOA N
Attached Garage N
Subdivision Name ESPER GARDENS
Garage Y/N N
Full Baths 40
Status Active
City DetroitCity_Wayne
Disclosures TaxesNotHomesteadExempt
Senior Community Y/N N
High School District Detroit
Number Of Units Total 40
MLS Area Area05042Det6TireGrnfldLivernois
Carport Y/N N
Land Lease Y/N N
Tax Annual Amount 64580.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Legal Description W SCHAEFER 70 THRU 60ESPER GARDENS L47 P22 PLATS W C R 22/547 238.43 IRREG
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Exterior
Water Source Public
Foundation Details Basement
Spa N
Lot Dimensions 27007
Lot Size Acres 0.62
Waterfront Y/N N
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Basement (Y/N) Y
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Above Grade Finished Area 28406.0
Total Bedrooms 44
Above Grade Finished Area Source PublicRecords
Above Grade Finished Area Unit Type SquareFeet
Total Baths 40
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Internal Only
Street Number 1 8207
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* Excluded Features
List By
Justin Zehel

Listing Agent

Keller Williams Paint Creek

Broker

(248) 979-3466

Phone

Affordability Calculator

$23,061
Per Month
77%
23%
0%
Monthly Principal & Interest
$17,679
Monthly Property Taxes
$5,382
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
848539 Elementary School
848135 Middle School
Unknown High School High School
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Pricing History
DatePricePrice ChangeDescription
6/1/2026$2,200,000 -21.43% Price Down
9/12/2025$2,800,000 Listed Price

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8207 Schaefer Highway, Detroit, MI, 48228 is a Multi-Family Home for sale at $2,800,000 with 28,406 sqft and a lot size of 0.62. 8207 Schaefer Highway is a studio with 40.0 baths and was built in 1957. The property's zip code is 48228 which is in Detroit, MI

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