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456 Alger Street

Detroit, MI 48202
  • $675,000
  • STATUS: Active
  • ON SITE: 581 Days
  • ID#: 2200027253
$675,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 6
    BATHS
  • 0
    1/2 BATHS
  • 6,634
    SQFT
  • $102
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1914
County:
Zoning:
Multi-Family
Lot Size Dimensions:
50.00X125.00

School Ratings & Info

School District:

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.

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© 2021 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than The BK Agency are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2021-11-26T23:55:55.757.
www.thebkagency.com/homes/105300890
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456 Alger Street Detroit, MI 48202

  • Price: $675,000
  • Status: Active
  • On Site: 581 Days
  • ID#: 2200027253
0
Beds
6
Baths
0
½ Baths
0.14
Acres
6,634
SQFT
$102
$/SQFT
1914
Built
Neighborhood:
Petrys
County:
Wayne
Area:
Det: Livernois-i75 6-gd River
School District:
DETROIT
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.
Exterior Features

Architecture Level 3 Story Architecture Style Other Construction Materials Brick Exterior Features Awning/Overhang(S)Fenced Foundation Details Basement Foundation Materials Brick Lot Size Dimensions 50.00X125.00 Pool YN No Porch Type PorchPorch - Covered Road Frontage Type Paved Roof Material Asphalt Waterfront YN No

Interior Features

Basement Type Unfinished Basement YN Yes Baths Total 6.00 Heating Forced Air Heating Fuel Natural Gas Living Area Source Public Records Room Count 0 Sq Ft Combined 6634 Sq Ft Total Basement 3000 Unit Efficiency Number Of 0 Unit Four Bed Number Of 0 Unit One Bed Number Of 0 Unit Three Bed Number Of 3 Unit Two Bed Number Of 3 Water Heater Fuel Natural Gas

Property Features

Assessment 0 Down Payment Resource YN No Encroachment YN No Exclusions YN No Existing Lease YN No Gross Scheduled Income 100800.00 Income Projection Projected Land Contract YN No Listing Financing CashWarranty Deed Monthly Rental Income 8400 Net Operating Income 84493.00 Number Of Units Leased 0 Ownership Status Private OwnedShort Sale - No Percent Homestead Exempt YN Yes Pets Allowed Call Postal City Detroit Protection Period 180 Settlement City Sewer Sewer-Sanitary Short Sale No Tax Amount Summer 1949.0000 Tax Amount Winter 251.0000 Title Private - Owned Total Tax 2200.0000 Transaction Type Sale Unit Loft Number Of 0 Unparsed Address 456 ALGER ST Water Source Municipal Water Zoning Multi-Family

IDX provided courtesy of Realcomp II Ltd., via Jim Saros Real Estate Services and Realcomp, ©2021 Realcomp II Ltd. Shareholders.


© 2021 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than The BK Agency are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2021-11-26T23:55:55.757.
 
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The BK Agency
18421 James Couzens
Detroit MI, 48235