2741 Monterey St - Multi-Family FOR SALE


Detroit, MI 48206- North Detroit
$250,000 USD
586-863-3300
2741 Monterey St, Detroit, MI for Sale
$250,000 USD
Multi-Family - FOR SALE
1/45
null | 12.41% Cap Rate

2741 Monterey St
Detroit, MI 48206
North Detroit


OVERVIEW

Investor’s Dream in Detroit’s Thriving Community! This 2 Unit multi family property generates a net annual income of $31,014. Both leases end 5-31-26. It is located in a desirable area south of Davison and west of Linwood, this spacious 2-family brick flat at 2741 Monterey Street is a unique investment opportunity you won’t want to miss. Each unit offers generous living space and versatile layouts, perfect for rental income or multi-generational living. Each unit are very large and spacious totaling 1525 sq ft each with 3 bedrooms and 1 bath. The basement is divided for tenant privacy. The first-floor unit features a bright living room (16x13), a formal dining room (13x12), a kitchen with an adjoining breakfast nook (10x4), and three spacious bedrooms (13x9, 11x10, 12x10). Upstairs, the second unit mirrors this layout with a slightly larger living room (18x12), providing ample room for comfort and flexibility. Set on a 35x120 lot, this property boasts a solid brick exterior with classic Detroit architectural charm. This property is one block away from Dexter where major developments are in motion like the Dexter Streetscape, Dexter Elmhurst Community Center (n.k.a., Helen Moore Community Center) renovation and new Park, Park & Open Space Improvements (Since 2021 to Date- Zussman, Russell Woods, Nardin Park, Dexter Tree Planting), Façade Improvement Projects, Dexter Mural Program and the Dexter Pop Up. Ask for the PDF doc of DEXTER AVE INVESTMENTS. Located near major roads, local schools, and minutes from the city’s key attractions, 2741 Monterey Street is a promising investment for any investor looking to capitalize on Detroit’s growing rental market. No showings until an accepted offer. No seller financing.

FOR SALE DETAILS

PRICE

$250,000 USD

PRICE/SF

$185 USD /SF

# OF UNITS

2

PRICE/UNIT

$125,000

CAP RATE

12.41%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

Residential

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Sotero Lopez IIeXp RealtyMore Info
586-863-3300

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Sotero Lopez IIeXp RealtyMore Info
586-863-3300

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.