Global Real Estate Advisors are pleased to present the exclusive offering of Dexter & Ewald Apartments in Detroit, MI. Located in the nation’s Motor City, the properties are a collection of 16 units originally constructed between 1948 & 1949 and renovated in 2021/2022. This provides a buyer with value-add potential through rent raises, a few light unit upgrades and implementing a RUBS program on the property.   

Since acquiring the building in 2020, the owner has spent $160,000 on capital improvements. These include new cameras, security doors, unit upgrades, new appliances, common area and HVAC updates, including 5 new furnaces in the 13700 Dexter building. Significant plumbing repairs have been made to reduce the ongoing utility expense for the new owner by 35%. 

Eight of the 16 units have been substantially updated. For these units, rents have been increased from $500 to as high as $975. There is a significant opportunity for a new owner to either increase existing rents on unimproved units and / or invest another $50,000 -$60,000 in the unit updates in the unimproved units and significantly increase the rents by as much as 22% across the portfolio.