4 Unit Investment Property

Multi-Family for Sale
Catylist Listing ID: 30761980
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 3,446 SF
Gross Building Area: 3,746 SF
Gross Land Area: 7,370 SF
Sale Price: $250,000
Unit Price: $62,500 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Usable Size (USF): 3,746 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/6/2021

Overview / Comments

Great investment opportunity in the Old Pole Town East area. Many new redevelopments and renovated properties throughout the neighborhood. This recently updated 4 unit building features 2 studio apartments on the first floor, one 3 bedroom apartment on the second floor and one 2 bedroom apartment on the third level. Seller currently used the property as an assisted living facility but will have the property vacated at closing. Large lot, 3601 Theodore, next door is included.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Detroit E of Woodward
Taxing Authority: Detroit
Tax ID/APN: W13I002895S
Zoning: 401 RES
Percent Occupied: 50%
Property Located Between: Forrest and Mt Elliot
Highway Access: Interstate 75 and 94.
Area Description: Surrounding area is undergoing a redevelopment throughout.
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 3
Year Built: 1913
Year Renovated: 2017
Roof Type: Gable
Construction/Siding: Brick/Vinyl Siding
Parking Type: Surface
Parking Description: Parking lot next door for 10-12 cars
Laundry: Shared
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas
Lot Frontage: 67
Lot Depth: 110
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines
Legal Description: N Theodore 33 Loomis & Dittmers Sub L19 P37 Plats WCR

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,775 142,996 384,685
Median Age: 41.73 36.65 34.65
Households: 3,394 59,940 146,375


Photograph of Listing Agent

Philip V Lang

RE/MAX Commercial Connection
CPIX Member
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