For Sale
8207 Schaefer Highway, Detroit, MI 48228
$2,800,000
MLS # 50188314 (MiRealSource)
Built 19570.62 acres
1 / 11
Listing Description
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.
Source: SparkMLS
About this home
Located in Mackenzie in Detroit, this property offers 40-bath, with original construction dating to 1957.
Listed at $2,800,000.
Annual property taxes run approximately $53,376 ($4,448/month). Estimate is based on county assessor records and current millage rates; actual tax may vary with PRE status and recent assessment changes.
Broadband is available with download speeds up to 2,000 Mbps from 8 providers. Electric service is provided by DTE Electric Company; natural gas by DTE Gas Company.
Listing Property Details
Property TypeMulti Family
Bathrooms40
Lot Size0.62 acres
Year Built1957
Location
CityDetroit
MunicipalityDetroit City
Zip Code48228
CountyWayne
Sale & Financing
Listed9/11/2025
Terms AcceptedCash
Source: SparkMLS
Tax Information
Annual Tax$72,776
Tax Year2025
State Equalized Value$831,600
Assessed Value$831,600
Parcel #22031207-19
Source: Public Records
Legal Description
W SCHAEFER 70 THRU 60ESPER GARDENS L47 P22 PLATS, W C R 22/547 238.43 IRREG
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Justin Zehel
Keller Williams Paint Creek
Frequently Asked Questions about 8207 Schaefer Highway, Detroit, MI 48228
What financing options are available for 8207 Schaefer Highway, Detroit, MI 48228?
Per MLS# 50188314, the seller has indicated this property accepts the following financing types: Cash. Financing acceptance is subject to change — confirm with the listing agent.
Is 8207 Schaefer Highway, Detroit, MI 48228 eligible for USDA financing?
Per USDA Rural Development boundary data, 8207 Schaefer Highway, Detroit, MI 48228 is not in an eligible area. USDA eligibility is based on property location — properties within designated urban zones are excluded. Other low-down-payment options (FHA, VA) may still be available.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 8207 Schaefer Highway, Detroit, MI 48228 is in flood zone X (minimal risk). Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Is fiber internet available at 8207 Schaefer Highway, Detroit, MI 48228?
Per FCC Broadband Data Collection filings, fiber internet is not currently available at 8207 Schaefer Highway, Detroit, MI 48228. The maximum advertised download speed is 2.0 Gbps. 8 internet providers serve this address. Confirm availability and speeds directly with providers.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE Gas Company. Confirm service details directly with providers.
How safe is this area?
Per our practice, crime and safety data should be obtained directly from the authoritative source. Wayne County law enforcement agencies participate in CLEMIS (Courts and Law Enforcement Management Information System) for public safety records.
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Tax Estimate
$
Annual tax$53,376
Monthly$4,448
Millage rate64.1844 mills
Municipality: Detroit
School district: DETROIT CITY SCHOOL DISTRICT
County: Wayne
Estimate based on SEV for a new buyer (taxable value resets to SEV on transfer). Actual taxes may vary. MI Treasury PT Estimator
Mortgage Calculator
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Monthly payment$22,609
Principal & interest$18,161
Property taxes$4,448
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Internet
Download
2 Gbps
Upload
250 Mbps
CableLicensed Fixed WirelessGSO SatelliteDSLSatellite
8 providers at this address
FCC Broadband Data Collection (Dec 2025). Max advertised speeds.
Utilities
DTE Electric Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
8207 Schaefer Highway, Detroit, MI 48228
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Neighborhood
Mackenzie
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Community
Detroit
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County
Wayne County
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