24
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$1,050,000
Est. payment /mo
18 Baths
11,439 SqFt
Active
4470 E OUTER Drive Detroit, MI 48234 3255
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Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,439 sqft
Price per Sqft $91
Subdivision Mi
MLS Listing ID 60388817
Style 2 Story
Full Baths 18
Year Built 1956
Annual Tax Amount $28,646
Lot Size 0.300 Acres
Acres 0.3
Lot Dimensions 104.00 x 125.00
Property Sub-Type Multi-Family
Property Description
Welcome to 4470 E Outer Dr, a renovated 2-story, 2-building garden style 18-unit brick apartment building. All units are 1-bed, 1-bath situated on a 13,068 sq ft site with great curb appeal. With 8 agency tenants and 10 cash tenants, this building comes fully occupied and stabilized with room yet to increase rents significantly without large capital expenditures. Two newer boilers have been installed, the roof is newer, and the windows are newer and vinyl as well. There is also a parking lot with plenty of parking for tenants. Overall, an ideal opportunity to both cash flow now and value add through a simpler business plan of raising rents in already quality units. Offering memorandum, rent roll and P&L are available upon request.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Multi-Family
Rooms
Basement Block, Common
Interior
Heating Forced Air
Fireplace No
Exterior
Exterior Feature Brick
Building
Story 2 Story
Foundation Basement
Water Public Water
Structure Type Brick
Schools
School District Detroit City School District
Others
Ownership Private
Assessment Amount $100
Energy Description Natural Gas
Financing Cash,Conventional
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Listed by Keller Williams Somerset