1020-1060 Alter Rd, Detroit, MI 48125

Colliers is Pleased to Present for Sale the the Bridge Apartments Located at 1020-1060 Alter Rd in Detroit, Michigan on the Border of Grosse Pointe Park. Built in 1926, the Property Consists of Four Historic Buildings Located in an Opportunity Zone. The Bridge Apartments Features an Excellent Location on the Corner of Alter Rd and E Jefferson Ave, One of Detroit’s Iconic Streets Spanning 6 Miles From Downtown Detroit. Immediately Adjacent to the Apartments is the $45mm Schaap Center for the Performing Arts and the Richard and Jane Manoogian Art Gallery Development (Https://schaapcenter.org/construction-news/), Which is Under Construction and Opening in 2025. The Project Will Help Bring an Exceptional Regional Arts Center to the Neighborhood and Enhance an Already Desirable Area. The Two Vacant Buildings on the Detroit Side of Alter Rd Were Recently Purchased by the East Jefferson Development Corp to Convert to Apartments and Their New Office Headquarters. Additional Redevelopment is Coming With the Moving of Fathead (Https://fathead.com/) Moving Its Headquarters a Block Away. The Bridge Apartment Benefits From Its Close Proximity to Several Schools and Churches, Located Across the Street From Detroit Merit Charter Academy and Just South of the St. Ambrose Church. Other Nearby Schools Include J.e. Clark Preparatory Academy, David Aerospace Technical High School, Hamilton Academy, the James and Grace Lee Boggs School, Garvey Academy, and More. It’s Also Located Within Close Proximity to Numerous Family-friendly Destinations Including the Wayne County Family Aquatic Center, Royal Skateland, Mariner Park, Riverfront-lakewood East Park, Maheras-gentry Park, the Butzel Family Recreation Center, Chandler Park Golf Course, Corrigan Playground, Etc. The Bridge Apartments Are Located Less Than 7 Miles From Downtown Detroit, 4 Miles From the Macarthur Bridge to Belle Isle, and Less Than 2 Miles From Stellantis’ Jefferson North Assembly Plant, and Close Proximity to a Wayne County Community College Eastern Campus, the Coleman a. Young International Airport, and Numerous Other Amenities. Adding to the Property’s Attractiveness is Its Position Within a Favorable Retail Market. Local Retailers Include Aldi, Rite Aid, Save a Lot, Dollar General, Cvs, Dollar Tree, O’reilly Auto Parts, Salvation Army, and More. Overall, the Bridge Apartments Offers an Investor an Excellent Opportunity to Acquire a Well-positioned Value-add Multi-family Asset Within a Superb Market With Strong Projected Upside Potential. Additionally, a Future Owner Will Benefit From the Property’s Location Within an Opportunity Zone, While Also Being Positioned on the Border of Grosse Pointe Park.