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Nortown Multifamily Home for Sale

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    $1,000,000

    • 18 Beds
    • 18 Baths
    • 11,439 Sq Ft

    4470 Outer Dr E, Detroit, MI 48234

    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

    Joe Hammel Keller Williams Somerset

    4470 Outer Dr E, Detroit, MI 48234

Why Live in Nortown

Once called Norris, and later North Detroit, Detroit’s Nortown neighborhood carries on the legacy of a farming village established over 150 years ago. Nortown may be deeply immersed in urban Metro Detroit, but its quiet streets, scores of spaced-out brick cottages and lush front lawns evoke memories of an agrarian past. Nortown was mainly developed from the 1920s to the early 1950s, and brick bungalows and cottages are found along every street. Many of these Federal-style homes have been well-maintained and renovated, adding freshness to a vintage housing stock. While original-quality homes tend to sell for between $29,000 and $100,000, remodeled properties garner sale prices between $103,000 and $170,000. Nortown stands out among its neighbors for its leafy character; front lawns tend to feature shrubbery and curbside trees, giving Nortown the appearance of a suburban neighborhood. However, Nortown does share the rest of the city's struggles; a CAP Index rating of 8 indicates a very high risk of crime. Students can start their education at Marion Law Academy, which serves grades K-8, before attending Osborn High School. Both schools receive C-minus ratings from Niche. Osborn High

Home Trends in Nortown, MI

Housing Trends

Median Sale Price
$69,500
Median Single Family Sale Price
$73,500
Average Price Per Sq Ft
$74
Number of Homes for Sale
9
Last 12 months Home Sales
30
Months of Supply
3.60
Median List Price
$80,000
Median Change From 1st List Price
6%
Median Home Sale Price YoY Change
-13%
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