2741 Monterey StDetroit, MI 48206

For Sale
$300,000

Two-unit brick building, high rental income.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional Class A multifamily investment property, located at 2741 Monterey Street in Detroit, Michigan, presents a compelling opportunity for discerning investors. This two-unit, single-family rental portfolio boasts a total of 3,050 square feet (1,525 sq ft per unit), each featuring three bedrooms and one bathroom. The units are generously sized, offering spacious living areas perfect for tenants. Each unit includes a bright living room, formal dining room, kitchen with breakfast nook, and three sizable bedrooms. The basement is thoughtfully divided to ensure tenant privacy. Currently, each unit commands a monthly rent of $1600, generating a substantial annual income of $38,400. The property sits on a 35x120 lot and showcases a solid brick exterior, reflecting classic Detroit architectural charm. Its prime location, just one block from Dexter Avenue, places it within easy reach of significant ongoing developments, including the Dexter Streetscape, community center renovations, park improvements, façade enhancements, and a mural program. Proximity to major roads, local schools, and city attractions further enhances its appeal. The property also benefits from interior and exterior security cameras. This sale-leaseback opportunity is ideal for investors seeking strong returns in Detroit's thriving rental market. The property is offered for sale at $300,000.

Highlights

  • $300,000 asking price for a Class A, two-unit multifamily property in Detroit, MI.
  • Property consists of a two-family brick building, each unit offering approximately 1525 sq ft with 3 bedrooms and 1 bath.
  • Located in a desirable Detroit neighborhood south of Davison and west of Linwood, near major roads, schools, and city attractions.
  • Each unit is potentially rentable for $1600/month, generating a potential annual income of $38,400.
  • The property sits on a 35x120 lot and includes interior and exterior security cameras.

Property Details for 2741 Monterey St

Property type
Multifamily properties, Residential income homes
Class
A
Units
2

Location Insight

City
Detroit
County
Wayne
State
Michigan
Latitude
42.384461669839
Longitude
-83.119102111953
2741 Monterey St, Detroit, Michigan

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2741 Monterey St
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