926 E Front Street, Monroe, MI 48161
926 E Front Street, Monroe, MI 48161
926 E Front Street, Monroe, MI 48161
44
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$799,000
Est. payment /mo
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17 Beds
10 Baths
7,066 SqFt
Contingent

926 E Front Street Monroe, MI 48161

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Misty Grantham

Misty Grantham

+1(419) 490-4476

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Contingent

Purchase Type For Sale

Square Footage 7,066 sqft

Price per Sqft $113

Subdivision Mi

MLS Listing ID 50180653

Style 2 Story

Bedrooms 17

Full Baths 10

Year Built 1883

Annual Tax Amount $12,554

Lot Size 0.610 Acres

Acres 0.61

Lot Dimensions 128x209

Property Sub-Type Multi-Family

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 (58026)

Interior

Heating Forced Air

Fireplace No

Building

Story 2 Story

Foundation Basement

Water Public Water

Schools

School District Monroe Public Schools

Others

Ownership LLC

SqFt Source Public Records

Energy Description Natural Gas

Financing Cash,Conventional

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MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Real Estate One Monroe

NEARBY SCHOOL & BUSINESS

Misty Grantham
Misty Grantham

Agent | License ID: MI: 6501436637 OH: SAL.2023000

+1(419) 490-4476 | mistygrantham@epique.me

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926 E Front Street