BEDS17
BATHS10 full
SQUARE FEET7,066
MLS#50180653
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONNone
SCHOOLMonroe Public Schools
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. Dont miss this chance to own a stabilized, income-producing multifamily property with upside potential in the heart of Monroe!
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Fuel Type: Natural Gas
Heating: Forced Air
Lot Size: 0.61 Acres
Stories: 2.0
Taxes: $12,554
Year Built: 1883
Feature Descriptions
Days on Site: 328
Sewer: Public Sanitary
Summer Tax: 6359
Water: Public Water
Winter Tax: 6195
Local Schools
School District: Monroe Public Schools
Listed By / Shown By
Listed By
Agency Name: Real Estate One Monroe
Agency Phone: 734-244-5605
Shown By
Agency Title: Key Realty
Agency Phone: 877-539-7589
Estimate Your Payment
Estimated Payment
$ 5,748.59 per month $4,469.38 Principal & Interest $1,046.17 Property Tax $233.04 Homeowner's Insurance
926 E Front Street | MLS# 50180653
This multi-family property located at 926 E Front Street, Monroe, MI 48161 is currently listed for sale with an asking price of $799,000. E Front Street is located within the Monroe Public Schools school district. Search Monroe real estate on www.ikeyrealty.com today.