3224 Monterey St, Detroit, MI 48206

Property Description

Unparalleled investment opportunity: Fully Renovated 4-Family House with New Furnaces, hot water heaters, and Separate Utilities in the Dexter Linwood area of Detroit. Welcome to this prime investment property in the sought-after Dexter Linwood neighborhood! This meticulously renovated 4-family house offers a lucrative opportunity for investors seeking a turnkey rental income. Key Features: • Furnaces: Each unit is equipped with its own furnace, so tenants can control their comfort. • Separate Utilities: Individual meters for electricity, gas, and water provide tenants with the convenience of managing their own utilities, enhancing rental desirability and ease of management. • Separate Basement Areas with Laundry Space • Renovated Interiors: Modern upgrades throughout, including updated kitchens, bathrooms, and flooring, attract quality tenants and maximize rental income potential. • Spacious Layouts: Generously sized units with multiple bedrooms and living spaces offer flexibility and appeal to a variety of renters. Additional Benefits: • Low Maintenance: Recent renovations mean minimal upkeep costs for investors, allowing for higher profit margins. • Desirable Location: Located in a thriving neighborhood where the Joe Louis biking/walking trail is planned to wind through this charming neighborhood • The Neighborhood has many amenities: Schools, close to downtown and midtown, transportation options nearby, ensuring high tenant demand. Investment Potential: • Steady Rental Income: With four units generating income. Property provides stable cash flow opportunity. Estimated cash on cash return of 20% / year. • Rents are estimated to increase 5% per year. • Appreciation: Positioned in an area with increasing property values, estimated to be near 3% per year, offering potential for long-term appreciation. Property includes the lot along the driveway side. Don't miss out on this exceptional investment opportunity! Expanding your portfolio or starting anew, this property promises both immediate cash flow.