MI > Detroit > Paterson Bros & Co Outer Drive-Van Dyke (Plats)
Detroit, MI 48234,4470 E OUTER DR
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Detroit, MI 48234,4470 E OUTER DR
Detroit, MI 48234,4470 E OUTER DR
Detroit, MI 48234,4470 E OUTER DR
Detroit, MI 48234,4470 E OUTER DR

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Larry Else

Larry Else

+1(313) 315-3215
$ 1,000,000
Est. payment /mo
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Active Under Contract

4470 E OUTER DR Detroit, MI 48234

18 Baths

11,439 SqFt

UPDATED:

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

Rooms

Basement Common, Unfinished

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

Senior Community false

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition ShortSaleNo, Standard

Realcomp MLS
©2025 Realcomp II Ltd. Shareholders
Listed by Joseph Hammel of Keller Williams Somerset
Larry Else

Larry Else

Broker | License ID: 386964

+1(313) 315-3215

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