$1,050,000
4470 e outer drive, detroit, MI 48234
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.
General Information
Price: $1,050,000
Price/SqFt: $92
Status: Active
MLS#: 20250023974
City: detroit
Post Office: detroit
Schools: detroit
County: Wayne
Subdivision: paterson bros & co outer drive-van dyke (plats)
Acres: 0.3
Lot Dimensions: 104.00 x 125.00
Bedrooms:0
Bathrooms:18 (18 full, 0 half)
Size: 11,439 sq.ft.
Acreage: 0.3 est.
Year Built: 1956
Property Type: Multifamily
Style: 2 Story
Features & Room Sizes
Exterior: Brick
Basement: 1
Heating: Forced Air, Separate Meters
Heating: Forced Air, Separate Meters
Tax, Fees & Legal
Est. Summer Taxes: $25,916
Est. Winter Taxes: $2,730
Est. Winter Taxes: $2,730
Map

IDX provided courtesy of Realcomp II Ltd. via American Associates, Inc. REALTORS and , ©2025 Realcomp II Ltd. Shareholders Listing By: Joseph Hammel of Keller Williams Somerset, Phone: (248) 649-7200