Alden Towers offers a unique investment opportunity to acquire an iconic waterfront multifamily asset in the midst of Detroit’s current renaissance. Aside from Alden’s natural charm and timeless architecture, this asset offers both strong current cash flow as well as significant upside potential.
Leveraging Alden Tower’s excellent physical condition and strong occupancy, additional value enhancement is available through strategic interior upgrades complementing the renovations of 2007-2010. Beautifully positioned on the banks of the Detroit River, the property is in the desirable Gold Coast of Detroit, the latest downtown sub market to experience significant population and rent growth. This location is in close proximity to the CBD and is adjacent to Indian Village, West Village and Belle Isle, “The Gem of the City”. Alden Towers offers residents an affordable alternative to the high rent districts in the Downtown and Midtown neighborhoods, while providing access to all that Detroit has to offer.
Iconic Historic Building Minutes From Downtown Detroit Tremendous Value-Add Potential Exceptional Location With Beautiful View on the Banks of the Detroit River Fabulous Proximity To Employment and Entertainment Renovations Have Exceeded $9 Million Excellent Market Metrics – Strong Occupancy and Annual Rent Growth