22 Baths
2,104 SqFt
22 Baths
2,104 SqFt
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Rent
Square Footage 2,104 sqft
Subdivision Monterea
MLS Listing ID 20261045009
Style Duplex
Full Baths 22
Year Built 1923
Lot Size 4,356 Sqft
Acres 0.1
Property Sub-Type MultiFamily
Property Description
Prime investment structure: two-unit duplex (multi-family zoning) with 3-bedroom units—ideal for long-term rental demand and simple portfolio scaling.
Fully occupied with tenant possession and existing leases in place, delivering immediate cash flow from day one; rent reportedly includes sewer and water.
Favorable operating footprint: 45 x 100 lot, paved road frontage, on-street parking and public utilities (water/sewer/cable available), simplifying management and lowering capital surprises.
Solid building fundamentals: built 1923 with poured full basement (approx. 1,045 sq ft) and updated systems possible to prioritize for value-add; duplex layout and two-story configuration support unit-level renovations and rent bumps.
Tax and cost advantages: property is assessed on a special act roll and exempt from ad valorem taxes through 12/30/2027, reducing near-term tax expense and improving net operating income. Current summer and winter tax figures are listed (Summer: $1,116; Winter: $666).
Financial edge for buyers: lower listing price (seller motivated to move to larger multifamily) creates opportunity for immediate equity and accelerated returns through modest rent increases, expense optimization, or unit upgrades.
Quick due-diligence wins: clear public records (property ID W08I003749S) and mapped location in Detroit (zip 48206) enable fast underwriting and neighborhood comparables.
Financing and exit: Detroit investor-friendly loan products exist for small multifamily; current 30-year fixed quotes near 7% for approved credit may apply—shop multiple lenders for best leverage to boost cash-on-cash returns.
Location
State MI
County Wayne
Area Area05043Detlivernoisi756Gdriver
Rooms
Basement Full, Unfinished
Interior
Heating Forced Air, Natural Gas
Fireplace No
Exterior
Exterior Feature Balcony, Lighting
Parking Features OnStreet
Pool None
Utilities Available CableAvailable
View Y/N No
Roof Type Asphalt
Garage false
Building
Foundation Basement, Poured
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
Pets Allowed No
NEARBY SCHOOL & BUSINESS