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Listed price in listed location currency (USD).
$300,000
$329,900

082

MLS® 20240050105

Overview

Key Facts

Type Multi Family
Levels Residential Income
Size 4880 sqft
Garage 
Taxes $7,309
Lot Size 
Approx. Age 1924
Avg. Price Per Sqft $67
MLS® Number 20240050105

Property Address: 3224 Monterey St, Detroit, MI, 48206-1002

Average square foot calculated using Size range provided by listing agent.

Description

Unparalleled investment opportunity: Fully Renovated 4-Family House with New Furnaces, hot water heaters, and Separate Utilities in the Dexter Linwood area of Detroit. Welcome to this prime investment property in the sought-after Dexter Linwood neighborhood! This meticulously renovated 4-family house offers a lucrative opportunity for investors seeking a turnkey rental income. Key Features: • Furnaces: Each unit is equipped with its own furnace, so tenants can control their comfort. • Separate Utilities: Individual meters for electricity, gas, and water provide tenants with the convenience of managing their own utilities, enhancing rental desirability and ease of management. • Separate Basement Areas with Laundry Space • Renovated Interiors: Modern upgrades throughout, including updated kitchens, bathrooms, and flooring, attract quality tenants and maximize rental income potential. • Spacious Layouts: Generously sized units with multiple bedrooms and living spaces offer flexibility and appeal to a variety of renters. Additional Benefits: • Low Maintenance: Recent renovations mean minimal upkeep costs for investors, allowing for higher profit margins. • Desirable Location: Located in a thriving neighborhood where the Joe Louis biking/walking trail is planned to wind through this charming neighborhood • The Neighborhood has many amenities: Schools, close to downtown and midtown, transportation options nearby, ensuring high tenant demand. Investment Potential: • Steady Rental Income: With four units generating income. Property provides stable cash flow opportunity. Estimated cash on cash return of 20% / year. • Rents are estimated to increase 5% per year. • Appreciation: Positioned in an area with increasing property values, estimated to be near 3% per year, offering potential for long-term appreciation. Property includes the lot along the driveway side. Don't miss out on this exceptional investment opportunity! Expanding your portfolio or starting anew, this property promises both immediate cash flow.
MLS® Number20240050105
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1924
BasementPrivate, Unfinished
DrivewayShared Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

Aug 12, 2024End Date
$300,000Sold Price

Sold

Jul 25, 2024List Date
$329,900List Price

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