12797 Monica Street

Detroit - United States of America

Properties > 12797 Monica Street
EST. ANNUAL RETURN
11.60%
INVESTMENT TERM
4 years
INVESTMENT TYPE
Entire Property
PROPERTY TYPE
Apartment Block
TARGET
$99,000

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Description

Multi-family, 4 bedroom 2 bathroom, brick colonial style home originally constructed in 1926 and recently renovated. The property offers a spacious 232.7m2 of living space over two floors, with a basement and a garage. The unit has been converted into 2 single-family apartments consisting of 2 bedrooms and 1 bathroom each.

In addition, the property comes complete with a built-in fireplace in the living room, forced air heating and central cooling offering a warm, comfortable environment in the winter and cool, fresh space in the summer.


About the area

Detroit is the largest city in the Midwestern state of Michigan. Near Downtown, the neoclassical Detroit Institute of Arts is famed for the Detroit Industry Murals painted by Diego Rivera, and inspired by the city’s ties to the auto industry, giving it the nickname "Motor City."

Detroit is also the birthplace of Motown Records, whose chart-topping history is on display at their original headquarters in Hitsville, U.S.A.

Investment Timeline
  • Funding started
    8th Oct. 2020
  • Funding complete
    9th Oct. 2020
  • Rental starts
    24th Nov. 2020
  • Returns start
    1st Dec. 2020
  • Year 1 returns
    1st Dec. 2021
  • Year 2 returns
    1st Dec. 2022
  • Year 3 returns
    1st Dec. 2023
  • Year 4 returns
    1st Dec. 2024
  • Property sold
    21st June 2024


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