Updated 16-Unit Apartment
For Sale
$549,900
3550 Montclair St, Detroit, MI 48214
Updated 16-unit apartment building near Chrysler/Stellantis plant.
Property Size10,944 SF
Lot Size0.23 Acres
Days on Market209
Property Features for 3550 Montclair St
General Information
Standard status
Active
Size
10,944 SF
Lot size
0.23 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$18,135
Building Details
Building Size
10,944 SF
Year Built
1925
Units
16
Listing Agency:
REMAX LEADING EDGE
Listed By:
Ryan E Kain · License #6501401697
(313) 277-7777
Source:
Elliman
Added: Mar 10
Changed: Oct 1
Last Checked: Oct 2 at 9:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REMAX LEADING EDGE
Investment Insights
Based on property information with market context.
This 16-unit brick apartment building presents an investment opportunity. Seven of the sixteen units are currently occupied. Significant updates were completed in 2022, including new windows, a new roof, two new boilers and hot water tanks, and some updated electrical and plumbing systems. Five of the sixteen units have been completely remodeled with updated kitchens and bathrooms, while the remaining eleven units have undergone rental turnovers. 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 has separate electricity and cooking gas meters, while the owner is responsible for heating, common area electricity, and water. The property is located a few blocks away from the new Chrysler/Stellantis auto manufacturing plant, which is expected to have a positive economic impact on the surrounding areas.
Key Highlights
- Updated 16‑unit brick apartment building, a great addition to any portfolio.
- Value‑add opportunity: Basement space ready for 4 more units!
- Significant updates completed in 2022: new windows, roof, 2 new boilers and HWTs, updated electrical and plumbing.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
Business Placement
Demographics for 48214, MI
18,959
Population
13,279
Households
1.4
Avg Household Size
44
Median Age
27%
College-Educated
84%
High-School Grad
5.1 sq mi
ZIP Area
3,717
Density / Sq Mi
$34,807
Median Household Income
$36,625
Median Earnings
$818
Median Rent
$120,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
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 $549,900.
What are key features of this property?
This property features: Updated 16‑unit brick apartment building, a great addition to any portfolio.; Value‑add opportunity: **Basement space ready for 4 more units!**; Significant updates completed in 2022: new windows, roof, 2 new boilers and HWTs, updated electrical and plumbing.
