4470-4480 E Outer Dr - Apartments FOR SALE


Detroit, MI 48234- Grant
$1,050,000 USD
314-239-7713
4470-4480 E Outer Dr, Detroit, MI for Sale
$1,050,000 USD
Apartments - FOR SALE
1/25
null | Request Cap Rate

4470-4480 E Outer Dr
Detroit, MI 48234
Grant


OVERVIEW

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 and billing back some utilities. Offering memorandum, rent roll and P&L are available upon request.

FOR SALE DETAILS

PRICE

$1,050,000 USD

PRICE/SF

$78 USD /SF

# OF UNITS

18

PRICE/UNIT

$58,333

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1956

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

MF

APN/PARCEL ID

15-00503-940

ASK ABOUT THIS PROPERTY

Michael HelfantKW CommercialMore Info
314-239-7713

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Michael HelfantKW CommercialMore Info
314-239-7713

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.