Last Sold Price
4,970 sqft$72/sqft
2501 Alter Road, Detroit, MI 48215

Description

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...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!
LISTING CLOSED: 09/12/2023 12:00 AM

  1. Listed by Marta Kopania • 1st Michigan Real Estate
    P: (734)-301-6553 C: (734)-301-6553 kopaniamarta@gmail.com

Property Details for 2501 Alter Road

Status
MLS #
60238480
Days on Market
45
Taxes
$2,396 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Residential Income / Multi Family
Year Built
1925
Lot Size
0.08 AC / 3,484 SF
Architectural Style
2 Story
Subdivision Name
C B SHERRARD SUB (PLATS)
Has Waterfront
No
Zoning Description
Multi-Family

Location

Listing Courtesy of 1st Michigan Real Estate

Sold By LPS

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Building Information for 2501 Alter Road

Stories2Residences6Year Built1925Building Size-Lot Size0.08 AC / 3,484 SF

Payment Calculator

$2,009 per month

30 year fixed, 6.55% Interest

Principal and Interest

$1,810

Property Taxes

$200

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 2501 Alter Road

Summary
Location and General Information
  • Cross Street: Alter & Vernor
  • Directions: Alter & Vernor
  • Latitude: 42.38226498
  • Longitude: -82.944742
  • MLS Area Major: Detroit (82001)
  • Senior Community: No
Taxes and HOA
  • Parcel Number: W21I063169S
  • Tax Annual Amount: $2,396.00
  • Tax Assessed Value: 17111
  • Tax Other Annual Assessment Amount: $900.00
School Information
  • High School District: Detroit
Property
Lot Information
  • Lot Size Acres: 0.08
  • Lot Size Area: 0.08
  • Lot Size Units: Acres
  • Lot Size Dimensions: 39.00 x 89.00
  • Road Frontage Type: Paved
  • Road Surface Type: Paved
Property and Assessments
  • Above Grade Finished Area: 4970.0
  • Building Area Total: 4970.0
  • Living Area: 4970.0
  • Living Area Source: Measured
  • New Construction: No
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Year Built: 1925
Building Features
  • Construction Materials: Brick
  • Foundation Details: Basement, Block
  • Levels: Two
  • Total Stories: 2
Utilities
  • Sewer: Sewer At Street
  • Utilities: Sewer Available
  • Water Source: Waterat Street
Interior and Exterior Features
Interior Features
  • Basement: Unfinished
  • Has Basement: Yes
  • Full Bathrooms: 6
  • Total Bathrooms: 6
  • Has Cooling: No
  • Has Fireplace: No
  • Heating: Hot Water, Wood
  • Has Heating: Yes
Multi Family
Multi Family Information
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
Income & Expenses
  • Gross Scheduled Income: $70,680

Property History for 2501 Alter Road

DateEvent & SourcePriceAppreciation
Sep 12, 2023

Sold

Realcomp #20230058871

$356,000
Sep 12, 2023

Sold

MiRealSource #60238480

$356,000
Sep 11, 2023

Contract Signed

Realcomp #20230058871

DateEvent & SourcePrice
09/12/2023

Sold

Realcomp #20230058871

$356,000
09/12/2023

Sold

MiRealSource #60238480

$356,000
09/11/2023

Contract Signed

Realcomp #20230058871

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 2501 Alter Road

Taxable ValueLand-Additions-Total-
Tax Record2023$8,878 ($740 / month)
Home Facts
Total Finished SqFt4,970 SqFtAbove Grade Finished SqFt4,970 SqFtStories2Lot Size3,485 SqFtStyleMulti-Family Dwelling (2-4)Year Built1925ZoningR2CountyWAYNEAPN21063169.

Schools near 2501 Alter Road

This home is within Detroit Public Schools Community District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - PK to 8
Public - PK to 8
Public - PK to 12
Rating
School
Distance
Bates Academy
PublicPK to 8

Carstens Elementary-Middle School
PublicPK to 8

Detroit International Academy For Young Women
PublicPK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of 1st Michigan Real Estate

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