MI
Monroe
Monroe City
48161
926 E Front Street
926 E Front Street, Monroe City, MI 48161
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Listing Type
Commercial/Industrial
Listing Status
Active
44
$819,900

Home Details for 926 E Front Street

Price
$819,900
Type
Commercial Sale
Bedrooms
0
Bathrooms
Square feet
NaN
Year built
1883
Lot size acres
0.61
County
Monroe
Garage
Days on site
236
MLS Listing#
57050180679
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!

Property Features
  • Cooling Information
    • None
  • Heating Information
    • None
  • Water Features
    • Public
Listing Courtesy: eXp Realty LLC in Monroe - 734-244-5605
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Market statistics compiled from data from Michigan Regional Information Center.
EXIT UNITED REALTY PROFESSIONALS
611 W. Nine Mile Rd, Ferndale, MI 48220
Office
248 677 3220
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