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4 Baths
3,538 sqft

$269,995

3235 Monterey Street, Detroit City Wayne Michigan, 48206

Price per sqft$76.31
Built in1924
Property size3,538 sqft
Property typeMulti-family

Overview

Active

Listed Aug 16, 2026

Updated 7 days ago

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.

$1,796/mo

Est. mortgage payment based on a $269,995 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
20261065042

Interior Features

Bathrooms
4
Heating
Yes
Basement
Yes

Exterior Features

Lot Size
0.14 Acres

Other Property Details

Taxes
$4,403
Tax Frequency
Annually
Pets Allowed
Yes
55+/Senior Community
No

 

Courtesy of NATOD Management

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Originating MLS:
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Data last updated 3:42 AM UTC, 10/6/2026

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