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    16914 Monica St Detroit, MI 48221

    For Sale
    $365,000

    Renovated 5-unit property near Detroit Mercy University, fully rented.

    Lot size:
    0.11 Acres

    Property Features for 16914 Monica St

    General Information

    Lot size
    0.11 Acres

    Building Details

    Year built
    1930

    Source: Munoz Realty Inc Agent Gaston Munoz

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

    Overview

    Detroit Multifamily Property Near University

    This multifamily property is located within walking distance of Detroit Mercy University. The building contains five units, each featuring one bedroom, one bathroom, a kitchen, a dining room, and a living room. The property has been fully renovated and is currently 100% rented. Renovations include a new roof, new windows, new gutters, a new electrical system, new plumbing, new furnaces, and new hot water tanks. The kitchens feature new cabinets and ceramic tile floors. The bathrooms have been totally renovated, and new carpet has been installed in every bedroom. The property is intended to be a money-making investment.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -83.1437409
    Latitude
    42.4163444

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    FAQs

    What type of property is this?
    Apartment building - Renovated 5-unit property near Detroit Mercy University, fully rented.
    Where is this apartment building located?
    The property is located at 16914 Monica St Detroit, MI.
    What is the asking price?
    The asking price for this property is $365,000.
    What are key features of this property?
    This property features: - Fully renovated 5-unit building with immediate rental income.; - Prime location within walking distance of Detroit Mercy University.; - Comprehensive renovations including new roof, windows, gutters, electrical system, plumbing, furnaces, and hot water tanks.
    (313) 914-7545
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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
    16914 Monica St Detroit, MI 48221
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