NOT LISTED FOR SALE

2501 Alter Rd Detroit, MI 48215

Riverbend Neighborhood
6 Beds
6 Baths
4,970 Sq Ft
3,485 Sq Ft Lot

Last Sold September 12, 2023

Last sale price $356,000 $72 Per Sq Ft

45 Days on Market

About This Home

As of September 2023

HIGHEST AND BEST FRIDAY AT NOON. LOCATED EXACTLY ONE BLOCK FROM THE INFAMOUS CITY OF GROSSE POINTE, YOU WILL FIND 2501 ALTER NESTLED ON A 2,914 SQUARE FOOT LOT IN THE QUIET RIVERBEND NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL CONSISTS OF 6 RECENTLY REMODELED UNITS. SHE HAS BEEN CAREFULLY UPGRADED AND HAS NEWLY INSTALLED FURNACES AND HOT WATER TANKS. IN ADDITION, EACH UNIT HAS NEWER PLUMBING AND ELECTRICAL AS WELL TO INSURE MAINTENANCE FREE CASH FLOW. EACH SPACIOUS DWELLING HAS FRESHLY ROLLED PAINT AND FASHIONED WITH LAMINATE FLOORING OR BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. THIS BEAUTY HAS JUST BEEN LEASED WITH 6 SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS OF $5,890 ARE PAID IN FULL BY THE FEDERAL GOVERNMENT. TENANTS PAY ALL THE UTILITIES WHICH ALLOWS THIS INVESTMENT TO PAY A RETURN OF JUST UNDER 20%. THIS DIAMOND WILL WRAPPED AROUND A LUCKY OWNER'S FINGER SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER. LET'S CLOSE!

Last Agent to Sell the Property

Marta Kopania

Downtown Realty License #6501424283 Listed on: 07/18/2023

Last Buyer's Agent

Lynn Miller

Prestige Realty International License #6502353735

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1925 | Remodeled in 2023

Lot Details

  • 3,485 Sq Ft Lot
  • Lot Dimensions are 39.00 x 89.00

Home Design

  • Brick Exterior Construction
  • Block Foundation

Interior Spaces

  • 6 Full Bathrooms
  • 4,970 Sq Ft Home
  • 2-Story Property
  • Unfinished Basement

Utilities

  • Wall Furnace
  • Hot Water Heating System
  • Heating System Uses Wood
  • Sewer in Street

Listing and Financial Details

  • Assessor Parcel Number W21I063169S

Community Details

Overview

  • 6 Units
  • C B Sherrard Sub Subdivision

Pet Policy

  • Call for details about the types of pets allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,396

Year Built

Built in 1925 | Remodeled in 2023

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Level: 2 Story
  • Assessment: 900.00
  • Year Built: 1925
  • State Equalized Value: 106600.0000
  • Year Renovated: 2023
  • Pets Allowed: Call
  • Special Features: NewHome
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Total Bathrooms: 6.00
  • Full Bathrooms: 6
  • Basement: Yes
  • Basement Type: Unfinished
  • Sq Ft Combined: 4970
  • Total Sq Ft: 4970
  • Sq Ft Total Bsmt: 1000

Exterior Features

  • Foundation Details: Basement
  • Construction Materials: Brick
  • Foundation Materials: Block
  • Road Frontage Type: Paved

Utilities

  • Heating Fuel: Wood
  • Heating: Hot Water, Wall/Floor Furnace
  • Sewer: Sewer at Street
  • Water Source: Water at Street

Schools

  • School District: Detroit

Lot Info

  • Lot Size Area: 0.08
  • Lot Dimensions: 39.00 x 89.00
  • Parcel Number: W21I063169S
  • Zone Conform: Yes
  • Zoning: Multi-Family

Rental Info

  • Monthly Rental Income: 5890

Tax Info

  • Tax Amount Summer: 2235.0000
  • Tax Amount Winter: 161.0000
  • Total Tax: 2396.0000
  • Taxable Value: 17111.0000

Multi Family

  • Gross Scheduled Income: 70680.00
  • Number Of Units Total: 6
  • Number of One Bedroom Units: 6
  • Number Of Units Leased: 6

MLS Schools

  • School District: Detroit

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/12/2023 09/12/23 Sold $356,000 -5.1% $72 / Sq Ft
09/01/2023 09/01/23 Pending -- -- --
08/25/2023 08/25/23 Price Changed $375,000 -6.0% $75 / Sq Ft
08/14/2023 08/14/23 Price Changed $399,000 -6.1% $80 / Sq Ft
08/08/2023 08/08/23 Price Changed $425,000 -5.6% $86 / Sq Ft
07/30/2023 07/30/23 Price Changed $450,000 -5.3% $91 / Sq Ft
07/22/2023 07/22/23 Price Changed $475,000 -5.0% $96 / Sq Ft
07/18/2023 07/18/23 For Sale $500,000 -- $101 / Sq Ft
Source: Realcomp

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Marta Kopania

    Seller's Agent in 2023

    Marta Kopania

    Downtown Realty

    (734) 301-6553

    4 in this area

    166 Total Sales

    Section Image
  • Lynn Miller

    Buyer's Agent in 2023

    Lynn Miller

    Prestige Realty International

    (313) 363-0661

    1 in this area

    16 Total Sales

    Section Image
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Map

Source: Realcomp

MLS Number: 20230058871

Realcomp

Michigan Wayne County Detroit 48215 Riverbend

2501 Alter Rd, Detroit, MI

This home is located at 2501 Alter Rd, Detroit, MI 48215 since 18 July 2023. This property was built in 1925. 2501 Alter Rd is a home located in Wayne County with nearby schools including Carstens Academy of Aquatic Science, Edward 'Duke' Ellington Conservatory of Music and Art, and Charles L. Spain Elementary-Middle School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Realcomp IDX provided courtesy of Realcomp II Ltd. via Ten-X and MLS
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IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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