456 Alger St, Detroit

$500,000

0 Beds
6 Baths
6,634 Sqft
.14 Acres
0 Garages

All brick 6 unit apartment building strategically located in the heart of North End, one of Detroit's fastest appreciating sub-markets. Located in the heart of Develop Detroit's 70 property for sale development w/ home sales as high as $260,000 & $191/SF, 456 Alger offers investors a rare opportunity to capitalize on the neighborhoods exciting momentum. The property features a desirable unit mix of 3 BR (3 units) & 2 BR (three units) apartments & is currently vacant w/ redevelopment already underway. With a potential annual gross income of $100,800, the property features a new roof, all demolition completed, all new electrical service separated for each unit, new gas meters separated for each unit, new forced air furnaces, substantial tuck-pointing & brick work completed, & many original details have been salvaged. Multiple exit strategies. Cash out Re-fi, sell for profit, or let property produce strong passive cash flow. Marketing package & projected I/E available upon request.

Essential Information
MLS® #2200027253
Price$500,000
Bathrooms6.00
Full Baths6
Square Footage6,634
Acres0.14
Year Built1914
TypeMultifamily
Sub-TypeOther
StatusActive
Community Information
Address456 Alger St
SubdivisionPETRYS
CityDetroit
CountyWayne
StateMI
Zip Code48202
Area

05043-Det: Livernois-I75 6-Gd River

Interior
HeatingForced Air
Exterior
ExteriorBrick
Exterior FeaturesFenced, Awnings/Overhangs
FoundationBasement
School Information
DistrictDetroit
Additional Information
ZoningMulti-Family
Listing Details
OfficeJim Saros Real Estate Services
LISTING MAP

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