503 ALGER Street Detroit, MI ^$ 585,000

503 ALGER Street

^$ 585,000

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503 ALGER Street

Detroit, MI, 48202

^$ 585,000

Studio Baths0.0 Sq 7,588

Monthly Estimate*

^$ 3,888

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Studio

Commercial Property for sale in Detroit, MI

for $585,000. This 7,588 square foot building was built on a lot size of 0.18.

If you're searching for an investment property with a value-add opportunity, look no further! This 9-unit apartment building located in the heart of North End, offers lucrative investment opportunities to enhance the value and increase its income potential. The property features 8- 2 BR units & a large studio basement apartment. There are hardwood floors throughout, updated electrical, which is separate for each unit, and updated hot water tank. Annual income is projected. Measurements are approximate. Contact us today to schedule a viewing and explore this incredible investment opportunity.

Commercial Active

Price

^$ 585,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 1,967

Style

Commercial/Industrial

Lot Size

0.18

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

60287273

Features

General

Heating Radiant

Possession At Close

Water Public Water

Status Active Active

Year Built 19

Subdivision BEAMER & FRAERS SUB (PLATS) MI

County Wayne

Class COM/IND/BUS OPP

Type Commercial/Industrial

Percent Ownership Private

Municipality Detroit

Zoning Multi-Family

Area Detroit (82001)

Primary City Detroit

Directions Alger and Beaubian

City Detroit

Street Name ALGER

Financial Terms Cash Conventional

Legal Description N ALGER E 10 FT 31 30 W 20 FT 29 BEAMER & FRAERS L14 P8 PLATS W C R 3/102 70 X 113

DOM 110

Postal Code 48202

Price Per Sq Ft Total 77.1

Coming Soon If you're searching for an investment property with a value-add opportunity look no further! This 9-unit apartment building located in the heart of North End

Exterior

Exterior Brick

Frontage 70

Lot Size Area 0.18

Lot Dimensions 70 x 113

Roads Paved Street

Waterfront Y/N No

Interior

Fuel Type Natural Gas

* Excluded Features

List By

Adrena Holman

Listing Agent

Exp Realty Llc

Broker

adrena.holman@exprealty.com

Affordability Calculator

$4,052

Per Month

Monthly Principal & Interest: $3,888
Monthly Property Taxes: $164
Monthly Home Insurance: --

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Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Detroit, MI

Average List Price ^$485,469

Percent of Sale Price 17%

About Detroit, MI

633,657 Population

-33% Since 2002

^$26,977 Median Income

36.23 Median Age

26% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

760529 Elementary School

760235 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
4/10/2024	$585,000	-18.75%	Price Down
2/10/2024	$720,000		Listed Price

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503 ALGER Street, Detroit, MI, 48202 is a Commercial Property for sale at $585,000 with 7,588 sqft and a lot size of 0.18. 503 ALGER Street is a studio with 0.0 baths. The property's zip code is 48202 which is in Detroit, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

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The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.

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503 ALGER Street

Commercial Property for sale in Detroit, MI

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