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Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

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3235 Monterey St , Detroit, MI 48206
$279,995
Est. Payment: $622.21/mo
0 Bed
4 Bath
0 Sqft
Status: Active | Days on site: 32
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352856 - 460024
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House 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.

Highlights

Listed by Drake O'Donnell , 313-693-0984 NATOD Management , 248-609-7108.

Property Type

Multi-Family

Lot/Acreage
0.14

HOA Fee

Year Built

1924

County

Wayne

School District

Detroit

Listing ID

20261065042

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:4
  • Full Bathrooms:
Water:Public

Exterior Features

Principal Interest
$622
Taxes
$367
HOA
$0

Home Price

$279,995

Loan Details

30 yrs
%

Down Payment

20%
$55,999
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Monthly Price:
$622.21

Principal

Taxes

Principal Taxes HOA Total
Monthly $622.21 $366.92 $0.00 $989.13
Yearly $7,466.53 $4,403.00 $0.00 $11,869.53
Total $223,996.00 $132,090.00 $0.00 $356,086.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Detroit, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.