2741 Monterey StDetroit, MI 48206

Property Details for 2741 Monterey St

Property type

Investment properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3845

Longitude

-83.1191

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