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For sale
  • Price cut: $50K (3/12)
    $4,400,000

    15860 Joy Rd, Detroit, MI 48228

    96beds
    84,557sqft
    : 
    Multi Family
    Built in 1951
    -- sqft lot
    $-- Zestimate®
    $52/sqft
    $-- HOA

    What's special

    Brand new plumbingFreshly rolled paintNewer heating system
    REDUCED! 100% OCCUPANCY! 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 IS TO BE RENTED TO SECTION 8 TENANTS. 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.
    156 days
    |
    1,083
    |
    50
    |

    Zillow last checked: 7 hours ago

    Listing updated: March 14, 2026 at 06:51pm

    Listed by:

    Lauryn Johnson 248-207-2994,

    KW Domain 248-590-0800

    Source: Realcomp II,MLS#: 20251050723MLS Logo

    Tour with a local agent

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 96
      • Bathrooms: 60
      • Full bathrooms: 60
      Heating
      • Forced Air, Natural Gas
      Features
      • Basement: Finished,Full
      • Has fireplace: No
      Interior area
      • Total interior livable area: 84,557 sqft
      • Finished area above ground: 48,336
      • Finished area below ground: 36,221

      Property

      Features
      • Levels: Two
      • Stories: 2
      • Pool features: None
      Lot
      • Size: 1.72 Acres
      • Dimensions: 496 x 150.45
      Details
      • Parcel number: W22I003043S001
      • Zoning description: MultiFamily
      • Special conditions: Short Sale No,Standard

      Construction

      Type & style
      • Home type: MultiFamily
      • Architectural style: Upper Lower Apartment
      • Property subtype: Multi Family
      Materials
      • Brick
      • Foundation: Basement, Brick Mortar, Poured
      Condition
      • New construction: No
      • Year built: 1951
      • Major remodel year: 2025

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public

      Community & HOA

      Community
      • Subdivision: FRISCHKORNS JOY ROAD
      Location
      • Region: Detroit

      Financial & listing details

      • Price per square foot: $52/sqft
      • Tax assessed value: $377,108
      • Annual tax amount: $30,886
      • Date on market: 11/2/2025
      • Cumulative days on market: 156 days
      • Listing agreement: Exclusive Right To Sell
      • Listing terms: Cash,Conventional
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        Estimated market value

        Not available

        Estimated sales range

        Not available

        $1,085/mo

        Price history

        Price history
        DateEventPrice
        3/12/2026Price change$4,400,000-1.1%$52/sqft
        Source: Realcomp II #20251050723 Report a problem
        1/29/2026Price change$4,450,000-1.1%$53/sqft
        Source: Realcomp II #20251050723 Report a problem
        11/17/2025Price change$4,500,000-5.3%$53/sqft
        Source: Realcomp II #20251050723 Report a problem
        11/9/2025Price change$4,750,000-1%$56/sqft
        Source: Realcomp II #20251050723 Report a problem
        11/2/2025Listed for sale$4,800,000+45.5%$57/sqft
        Source: Realcomp II #20251050723 Report a problem
        12/23/2021Listing removed--
        Source: Realcomp II #2210059194 Report a problem
        10/15/2021Price change$3,300,000+0%$39/sqft
        Source: Realcomp II #2210059194 Report a problem
        10/4/2021Price change$3,299,000-2.9%$39/sqft
        Source: Realcomp II #2210059194 Report a problem
        9/23/2021Price change$3,399,000-2.9%$40/sqft
        Source: Realcomp II #2210059194 Report a problem
        9/11/2021Price change$3,499,000-2.8%$41/sqft
        Source: Realcomp II #2210059194 Report a problem
        8/31/2021Price change$3,600,000+2.9%$43/sqft
        Source: Realcomp II #2210059194 Report a problem
        7/23/2021Listed for sale$3,500,000$41/sqft
        Source: Realcomp II #2210059194 Report a problem

        Public tax history

        Public tax history
        Tax history is unavailable.

        BuyAbility℠ payment

        Est. payment
        $29,400/mo
        Principal & interest
        $22690
        Property taxes
        $6710
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          Climate risks

          Neighborhood: Grandale

          Getting around

          62 / 100
          Somewhat Walkable
          45 / 100
          Some Transit
          47 / 100
          Somewhat Bikeable

          Nearby schools

          GreatSchools rating

          Local experts in 48228