Sold for $975,000

$975,000

4470 E Outer Dr, Detroit, MI 48234

18beds

11,439sqft

Multi Family

Built in 1956

-- sqft lot

$1,003,800 Zestimate^®

$85/sqft

$947 Estimated rent

Home value

$1,003,800

$913,000 - $1.10M

$947/mo

Zestimate^® history

Owner options

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$947/mo

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$947/mo

Rent Zestimate^®

Refinance and save

$6,737/mo

Est. payment

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$6,737/mo

Est. payment

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What's special

Welcome to 4470 E Outer Dr, a renovated 2-story, 2-building garden style 18-unit brick apartment building. All units are 1-bed, 1-bath situated on a 13,068 sq ft site with great curb appeal. With 8 agency tenants and 10 cash tenants, this building comes fully occupied and stabilized (over $15,000 gross income per month!) with room yet to increase rents significantly without large capital expenditures. Two newer boilers have been installed, the roof is newer, and the windows are newer and vinyl as well. There is also a parking lot with plenty of parking for tenants. Overall, an ideal opportunity to both cash flow now and value add through a simpler business plan of raising rents in already quality units. Offering memorandum, rent roll and P&L are available upon request.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 18
Bathrooms: 18
Full bathrooms: 18

Heating

Forced Air, Natural Gas, Separate Meters

Features

Basement: Common,Unfinished
Has fireplace: No

Interior area

Total interior livable area: 11,439 sqft
Finished area above ground: 11,439

Property

Features

Levels: Two
Stories: 2
Pool features: None

Lot

Size: 0.3 Acres
Dimensions: 104.00 x 125.00

Details

Parcel number: W15I005039C40
Zoning description: MultiFamily
Special conditions: Short Sale No,Standard

Construction

Type & style

Home type: MultiFamily
Architectural style: Other
Property subtype: Multi Family

Materials

Brick
Foundation: Basement, Block

Condition

New construction: No
Year built: 1956

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Subdivision: PATERSON BROS & CO OUTER DRIVE-VAN DYKE (PLATS)

Location

Region: Detroit

Financial & listing details

Price per square foot: $85/sqft
Tax assessed value: $342,700
Annual tax amount: $28,646
Date on market: 12/4/2025
Listing agreement: Exclusive Right To Sell
Listing terms: Cash,Conventional

Price history

Date	Event	Price
12/4/2025	Sold	$975,000-2.5%$85/sqft
Source: Realcomp II #20251058117 Report a problem
6/19/2025	Price change	$1,000,000-2.4%$87/sqft
Source: Realcomp II #20250023974 Report a problem
5/23/2025	Price change	$1,025,000-2.4%$90/sqft
Source: Realcomp II #20250023974 Report a problem
4/24/2025	Listed for sale	$1,050,000+12.3%$92/sqft
Source: Realcomp II #20250023974 Report a problem
11/21/2023	Sold	$935,000-6.5%$82/sqft
Source: MiRealSource #50114270 Report a problem
9/29/2023	Pending sale	$1,000,000$87/sqft
Source: MiRealSource #50114270 Report a problem
7/5/2023	Listed for sale	$1,000,000+11.1%$87/sqft
Source: MiRealSource #50114270 Report a problem
5/1/2023	Listing removed	--
Source: Realcomp II #58050102678 Report a problem
4/7/2023	Price change	$900,000-10%$79/sqft
Source: MiRealSource #50102678 Report a problem
3/4/2023	Listed for sale	$1,000,000$87/sqft
Source: MiRealSource #50102678 Report a problem