3550 Montclair Street
Detroit, MI 48214

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Description

**INVESTORS** This is your opportunity to add an updated 16 unit brick apartment building to your portfolio! The property has 7 of the 16 units occupied! The property was significantly updated in 2022, with updates including all-new windows, a new roof, 2 new boilers and HWTs, some updated electrical and plumbing, 5 of the 16 units were completely remodeled w/ updated kitchens and bathrooms, and the remaining 11 have had rental turnovers completed! Best of all, this is both a turn-key and value add property, as the front half of the basement has space to add 4 units and has been gutted in preparation for the new owner to begin the work. Each unit's electricity and cooking gas are metered separately while the owner pays for heating, common area electric, and water. The property is also located a few blocks away from Chrysler/Stellantis's new auto manufacturing plant which is expected to have a positive economic impact on the surrounding areas.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family Home
• Listing Status: Active
• County/Area: Wayne County
• Zip Code: 48214
• Year Built: 1925
• School District: Detroit
• Basement: Yes
• Lot Size: 10019 sq ft lot
• Construction Materials: Brick
• Directions: From Goethe turn North on Montclair
• Extras: Laundry Facility
• Gross Income: 169632
• Heat Source: Natural Gas
• Heating: Radiant, Steam
• Lot Size Area: 0.23
• Lot Size Square Feet: 10018.8
• Lot Size Units: Acres
• MLS Area Major: Wayne County - 100
• MLS Area Minor: Wayne County - 100
• Main Type: Multi Family
• Operating Expense: 84816
• Parcel Number: W21I040671S
• Road Frontage: 59
• SEV: 198700
• Street Type: Paved
• Tax Annual Amount: 18135
• Tax Legal Description: E MONTCLAIR N 13.5 FT 441 440 S 15 FT 439 HENDRIES SUB L25 P38 PLATS, W C R 21/528 58.5 X 172.83A
• Total Approx Sq Ft All Bldgs: 10944
• Total Num Units: 16
• Water Source: Public