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    3550 Montclair St Detroit, MI 48214

    For Sale
    $749,900

    Updated 16-unit apartment building near Chrysler/Stellantis plant.

    Lot size:
    0.23 Acres

    Property Features for 3550 Montclair St

    General Information

    Lot size
    0.23 Acres

    Building Details

    Year built
    1925

    Source: RE/MAX Leading Edge Agent Ryan E Kain

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Updated 16-Unit Apartment Building

    This is an updated 16-unit brick apartment building. Seven of the sixteen units are currently occupied. Significant updates were completed in 2022, including all-new windows, a new roof, two new boilers and hot water tanks, and some updated electrical and plumbing. Five of the sixteen units were completely remodeled with updated kitchens and bathrooms, and the remaining eleven units have had rental turnovers completed. The front half of the basement has space to add four 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 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.
    Location Intelligence

    Current Use by Public Records

    3550 Montclair LLC Business Management Consultant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9831996
    Latitude
    42.376224

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    FAQs

    What type of property is this?
    Apartment building - Updated 16-unit apartment building near Chrysler/Stellantis plant.
    Where is this apartment building located?
    The property is located at 3550 Montclair St Detroit, MI.
    What is the asking price?
    The asking price for this property is $749,900.
    What are key features of this property?
    This property features: - Updated 16-unit brick apartment building with significant renovations completed in 2022, including new windows, roof, boilers, and HWTs.; - Value-add opportunity to add 4 units in the gutted basement, increasing potential income.; - Located near Chrysler/Stellantis's new auto manufacturing plant, potentially increasing tenant demand.
    (313) 277-7777
    Request Owner's contact information
    3550 Montclair St Detroit, MI 48214
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    Detroit, MI 48214
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3550 Montclair St Detroit, MI 48214
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