Updated over 10 years ago on . Most recent reply
DETROIT apartment complex
I am looking for guidance from anyone that knows or invests around Detroit. A friend of mine (who is not a real estate investor) is looking at buying an apartment complex in Detroit. He is an entrepreneur, but this is a big jump for him. The address of the property is 14251 Longview St. Detroit, MI. It is an 18 unit building for I believe $180,000. I haven't even really looked at numbers yet. I am just curious about the area. From the quick searches I did it looks like this is a BAD area of Detroit. It sounds like the crime rates and police response times are horrible. I told him I wouldn't even think about it, but the person selling it to him says he has no trouble renting it out. I spend a lot of time on BP, so I hear about all of the risks and dislikes with Detroit. I'm just curious what people with knowledge of that specific area and low class apartments have to say.