15860 Joy Road, Detroit, MI 48228

• 36,221 sqft

Property Description

WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT HAS BEEN RENTED TO SECTION 8 TENANTS,THE MONTHLY DIVIDENDS ARE JUST UNDER $50,000 A MONTH AND ARE PAID BY THE FEDERAL GOVERNMENT. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER'S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

Listing Status:

Active

Date Added:

November 1, 2025 at 05:00AM

Listing Office:

KW Domain : 248-590-0800

Listing Agent:

Lauryn Johnson : 248-207-2994

MLS ID:

60950131

Construction

• General: BrickBasement

Location

• Road/Access: Paved
• Originating MLS: MiRealSource
• County: Wayne

Lot

• Zoning: N JOY RD 30 THRU 7 6 EXC E 12 FT OF S 110 FT 5 THRU 1 EXC S 110 FT FRISCHKORNS JOY RD SUB L70 P57 PLATSW C R 22/714 496.70 IRREG

Utilities

• Water: Public

Financial

• Source: MiRealSource

This listing courtesy of Lauryn Johnson, KW Domain