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$279,995
Est. payment /mo
4 Baths
6,098 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20261065042
HOA Y/N true
Year Built 1924
Annual Tax Amount $4,403
Lot Size 6,098 Sqft
Acres 0.14
Lot Dimensions 52.5X120.5
Source Realcomp
Property Description
Investment opportunity in the highly sought-after Boston-Edison Historic District, currently generating rental income with 2 of the 4 units occupied and 2 units vacant and ready for a new tenant or owner-occupant, giving a buyer the flexibility to step into a cash-flowing property while still having the option to move into one of the open units themselves. For buyers who prefer full occupancy before taking ownership, the vacant units can also be leased up prior to closing upon request. The property was previously rented at $4,200 per month when fully leased, with rent rolls available to support upon request. The current tenants have been in place for about a year and have consistently paid on time, and showings can be scheduled with just 24 to 48 hours' notice, making this one of the easier multi-unit properties to walk through compared to fully occupied buildings. This newly renovated property has been thoughtfully updated throughout, offering modern improvements while complementing the character of the surrounding historic neighborhood. Positioned in one of the most desirable and rapidly revitalizing areas of Detroit, the location provides convenient access to major employment centers and popular local attractions, including the iconic Motown Museum, Henry Ford Hospital, and the shops, dining, and entertainment along the Woodward Avenue corridor. Surrounded by beautiful historic architecture, tree-lined streets, and continued neighborhood investment, the area continues to attract strong tenant demand. With income history already established, room to add value by leasing up the vacant units, and a prime location in one of Detroit's most notable historic districts, this property presents a compelling opportunity for investors seeking cash flow, an owner-occupant looking to house hack, or anyone eyeing long-term appreciation in a historic neighborhood on the rise.
Location
State MI
County Wayne
Zoning Multi-Family,Residential
Direction Head North on Linwood and turn left (West) on Monterey St
Interior
Heating Forced Air
Exterior
Amenities Available Pets Allowed
View Y/N No
Building
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W12I003680S
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by NATOD Management
Nearby School & Business
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