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

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Jason Miller

jason@millerteamrealtors.com +1(248) 444-8774

$839,900

Est. payment - /mo

17 Beds

10 Baths

7,066 SqFt

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Key Details

Property Type Multi-Family

Sub Type MultiFamily

Listing Status Active

Purchase Type For Sale

Square Footage 7,066 sqft

Price per Sqft $118

MLS Listing ID 57050180653

Bedrooms 17

Full Baths 10

Year Built 1883

Lot Size 0.610 Acres

Acres 0.61

Property Sub-Type MultiFamily

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 Area06122Monroe

Interior

Heating ForcedAir, NaturalGas, SeparateMeters

Exterior

View Y/N No

Building

Foundation Basement

Sewer PublicSewer

Water Public

New Construction No

Schools

High Schools Monroe

School District Monroe

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition CorporateRelocation, ShortSaleNo

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Listed by Jacob Levicki of eXp Realty LLC in Monroe

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Jason Miller

+1(248) 444-8774

Broker | Brerms:277398

Broker Brerms:277398

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926 E Front ST Monroe, MI 48161

Jason Miller

Key Details

Location

Interior

Exterior

Building

Schools

Others

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