926 E Front Street, Monroe, MI 48161 - MLS#57050180653

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Paul Breyer

paul@millerteamrealtors.com +1(248) 219-0586

$899,900

Est. payment - /mo

10 Baths

7,066 SqFt

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,066 sqft

Price per Sqft $127

MLS Listing ID 57050180653

Full Baths 10

Year Built 1883

Annual Tax Amount $12,554

Lot Size 0.610 Acres

Acres 0.61

Lot Dimensions 128x209

Source Southeastern Border Association of REALTORS®

Property Description

Rare investment opportunity! This fully occupied 10-unit apartment property spans four distinct buildings on a single lot, ideally located at the corner of E Front St and Kentucky Ave. Just steps from a park and tennis courts. Built in 1883 and thoughtfully updated, the property offers a mix of 1, 2, and 3-bedroom units, all with 1 bathroom, plus a shared coin-operated laundry. Recent renovations include new roofing, luxury vinyl plank flooring, updated water heaters, key-code entry locks, and interior upgrades throughout most units. Tenants are on one-year leases, with a strong rental history and consistent on-time payments. Current gross income is approx. $116,000/year (including laundry) with a pro forma potential of $121,000/year. Estimated annual expenses are approx. $26,000, with a current net operating income of about $90,000 and a cap rate near 10% at the asking price. Don't miss this chance to own a stabilized, income-producing multifamily property with upside potential in the heart of Monroe!

Location

State MI

County Monroe

Area Monroe

Interior

Heating Forced Air, Separate Meters

Fireplace no

Heat Source Natural Gas

Exterior

Garage no

Private Pool No

Building

Foundation Basement

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Level or Stories 2 Story

Schools

School District Monroe

Others

Pets Allowed Yes

Tax ID 554901491000

Ownership Corporate/Relocation,Short Sale - No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

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Listed by Jacob Levicki of eXp Realty LLC in Monroe

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Paul Breyer

+1(248) 219-0586

Agent | License ID: 358851

Agent License ID: 358851

926 E Front Street Monroe, MI 48161

Paul Breyer

Key Details

Location

Interior

Exterior

Building

Schools

Others

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