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2340 Clements St
Detroit, MI 48238
Multifamily Property For Sale
·
4 Units
Investment Highlights
- Comprehensive renovation including modern kitchens, tiled bathrooms, and updated mechanical systems.
- Potential for additional income through basement amenities such as laundry or storage.
- Accessible to primary Detroit road networks and neighborhood amenities, enhancing tenant appeal.
- Rare four-unit layout with three-bedroom, one-bath apartments supporting strong rental demand.
- Oversized attic presenting expansion possibilities subject to city requirements and permitting.
Executive Summary
Located in Detroit’s Oakman neighborhood, 2340 Clements Street represents a fully renovated four-unit multifamily property offering both income stability and long-term potential. Each unit provides three bedrooms and one bathroom, creating a desirable configuration for family households. The property underwent a full gut renovation, incorporating new plumbing, updated kitchens and bathrooms with contemporary tile finishes, refreshed flooring, and removal of outdated surfaces to achieve a modern, competitive aesthetic.
Investors will benefit from market-supported rents averaging over $1,500 per month for similar units within the ZIP code and Section 8 acceptance in comparable properties. Two tenants are already secured, offering immediate cash flow, while the remaining units present additional leasing opportunities. The building includes a large basement, suitable for adding coin laundry or tenant storage, and an oversized attic with 12-foot ceilings that may allow for future expansion subject to approvals. Its convenient location provides easy access to major Detroit roadways and proximity to schools, services, and shopping corridors, making it appealing for both renters and ownership strategies.
Investors will benefit from market-supported rents averaging over $1,500 per month for similar units within the ZIP code and Section 8 acceptance in comparable properties. Two tenants are already secured, offering immediate cash flow, while the remaining units present additional leasing opportunities. The building includes a large basement, suitable for adding coin laundry or tenant storage, and an oversized attic with 12-foot ceilings that may allow for future expansion subject to approvals. Its convenient location provides easy access to major Detroit roadways and proximity to schools, services, and shopping corridors, making it appealing for both renters and ownership strategies.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 4 | $1,587 | 1,200 |
Property Taxes
| Parcel Number | 08-004549 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $57,900 |
Property Taxes
Parcel Number
08-004549
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$57,900
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