4470 E OUTER DR Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48234
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 11,439 sqft
Price per Sqft $87
Subdivision Paterson Bros & Co Outer Drive-Van Dyke (Plats)
MLS Listing ID 20250023974
Style Other
Full Baths 18
Year Built 1956
Lot Size 0.300 Acres
Property Sub-Type MultiFamily
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 (over $15,000 gross income per month!) 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 Area05051Det68Dequindretoconner
Interior
Heating ForcedAir, NaturalGas, SeparateMeters
Exterior
Pool None
View Y/N No
Building
Foundation Basement, Block
Sewer PublicSewer
Water Public
New Construction No
Schools
School District Detroit
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard