3700 PASADENA ST, Detroit, MI 48238 - MLS#20250019112

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Coldwell Banker Town & Country Real Estate

karengillrealestate@gmail.com +1(810) 397-4451

$549,900

Est. payment - /mo

9,053 SqFt

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UPDATED:

Key Details

Property Type Commercial

Sub Type RealEstateOnly

Listing Status Active

Purchase Type For Sale

Square Footage 9,053 sqft

Price per Sqft $60

Subdivision Robt Oakmans Livernois & Ford Hwy Sub (Plats)

MLS Listing ID 20250019112

Year Built 1949

Property Sub-Type RealEstateOnly

Property Description

***MOTIVATED SELLER*** Commercial minded investors are always looking for a great building that offers both value add, as well as long term appreciation. This is the play. The building is very well maintained. There are 10 total units with 8 (1 Bed) and 2 (2 Bed). Currently nine units are occupied and paying rent each month. There is 1 eviction recently completed. THis unit is currently being worked on. Seller has invested over 100k updating this building. It needs next to nothing. You can take over this asset with 90% occupancy. Only 1 unit to turn and you'll be fully performing. Or we can place the new tenant prior to the sale. The current rents are below market so there is also a ton of room to improve the building by increasing rents overall. There are multiple gas meter hookups to split utilities, or initiate rubs to offset costs for the next owner. The NOI here can be increased greatly making this achieve over 10% CAP with only some minor improvements. This area has undergone millions in upgrades over the last 2 years. If you're looking for long term growth this would a place to consider. Seller WILL LOOK AT ALL REASONABLE OFFERS. Send one over and lets get this deal done

Location

State MI

County Wayne

Area Area05043Detlivernoisi756Gdriver

Exterior

Parking Features Assigned

Fence Fenced

Utilities Available AboveGroundUtilities

View Y/N No

Roof Type Asphalt

Building

Foundation Basement, Block

Sewer SewerAtStreet

Water Community

Schools

School District Detroit

Others

Senior Community false

Acceptable Financing Cash, Conventional, WarrantyDeed

Listing Terms Cash, Conventional, WarrantyDeed

Special Listing Condition ShortSaleNo, Standard

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Listed by David Rabior of Clyde Realty LLC

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Coldwell Banker Town & Country Real Estate

+1(810) 397-4451

Broker | License ID: 308761

Broker License ID: 308761

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3700 PASADENA ST Detroit, MI 48238

Coldwell Banker Town & Country Real Estate

Key Details

Location

Exterior

Building

Schools

Others

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