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$649,900

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10 Beds

9,053 SqFt

Active

3700 PASADENA Street Detroit, MI 48238

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James Gean

jamesgean@epique.me +1(248) 613-8707

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Key Details

Property Type Commercial

Sub Type Apartments,Real Estate Only

Listing Status Active

Purchase Type For Sale

Square Footage 9,053 sqft

Price per Sqft $71

Subdivision Robt Oakmans Livernois & Ford Hwy Sub (Plats)

MLS Listing ID 20250019112

Bedrooms 10

Originating Board Realcomp II Ltd

Year Built 1949

Annual Tax Amount $658

Lot Size 10,890 Sqft

Acres 0.25

Lot Dimensions 94.00 x 115.00

Property Sub-Type Apartments,Real Estate Only

Property Description

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 eight units are occupied and paying rent each month. One unit is fully turned and vacant… Ready to rent. We will place that tenant soon. We have increased interest in the vacant unit and are currently taking applications. There is one last unit currently in eviction ststus. This eviction should be final prior to close. 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 can also be sold as a package to include 3730 Pasadena which is directly next door. Its a 3 bed property that is fully performing. Rented for 1100 per month. 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. This can also be packaed with 3730 Pasadena which is the SFR located right next to the building iside of the fenced lot. This would be for an addtional cost to add it to the 10 unit deal to make 11 total units. Motivated seller willing to negotiate.

Location

State MI

County Wayne

Area Det: Livernois-I75 6-Gd River

Zoning Commercial

Direction N of Davison W of Dexter

Exterior

Exterior Feature Fenced

Utilities Available Carbon Monoxide Alarm(s), Smoke Alarm

Roof Type Asphalt

Road Frontage Paved

Building

Foundation Basement

Sewer Sewer at Street

Water Community

Level or Stories 2 Story

Structure Type Brick

Schools

School District Detroit

Others

Tax ID W14I006165C6

Ownership Short Sale - No,Private Owned

Assessment Amount $100

Acceptable Financing Cash, Conventional, Warranty Deed

Rebuilt Year 2019

Listing Terms Cash, Conventional, Warranty Deed

Financing Cash,Conventional,Warranty Deed

Special Listing Condition Full Service

Listed by David Rabior of Clyde Realty LLC

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James Gean

Agent | License ID: 6501365748

+1(248) 613-8707

3700 PASADENA Street Detroit, MI 48238

James Gean

Key Details

Location

Exterior

Building

Schools

Others

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3700 PASADENA Street