Address
456 Alger St Detroit, MI
Price
$ 500,000
Property Attributes
  • MLS#40045881
  • TypeMulti-Family
  • CountyWAYNE
  • CityDetroit
  • AreaDetroit
  • NeighborhoodDetroit
  • Zip48202
  • Style
  • Year Built1914
  • Taxes2200
  • Price$ 500,000
  • Bedrooms0
  • Full Bathrooms6
  • Half Bathrooms0
  • Sqr Footage6634
  • Lot Size6,098 SqFt
Listing Provided Courtesy Of:
Jim Saros Real Estate Services
Property Description

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.

Price History
4/24/2020 Listed $500,000

General Features

Bathrooms 6
Class MULTIFAMILY
Community Amenities Some Pet Restrictions
Directions South of Alger West of Beaubien
Exterior Features Fenced Yard, Porch
Financial Terms Cash
Full Baths 6
Heating Forced Air
Legal Description S ALGER W 38 FT 26 E 11.62 FT 25 PETRYS L14 P42 PLATS, W C R 1/114 49.62 X 125
Listing Area Detroit (82001)
Municipality Detroit
Originating Mls RealComp
Ownership Private
School District Detroit City School District
Source Mls MI Real Source
Status Active
Status Active
Subdivision PETRYS
Subj To Short Sale Apprvl No
Type Multi-Family
Water Public Water
Water Heater Gas
Year Built 1914
Zoning Multi-Family

Interior Features

Fireplace? No
Fuel Type Natural Gas
Total Number of Units 6

Exterior Features

Exterior Brick
Foundation Type Basement
Lot Dimensions 50.00X125.00
Lot Size Area 0.14
Roads Paved Street
Sewer Septic Public Sanitary
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 48202

Price
AVG $340K
$500K
Taxes
AVG $1,380
$2,200
Visits
AVG 17
75
Year Built
AVG 1911
1914
Walkscore
AVG 68
65
Data Provided by Walkscore ® not using MLS data

Looking for a more comfortable experience?

Download our mobile app for a personalized browsing experience.