About 926 E Front St
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!
Features of 926 E Front St
| MLS® # | 57050180653 |
|---|---|
| Price | $859,900 |
| Bedrooms | 17 |
| Bathrooms | 10.00 |
| Full Baths | 10 |
| Square Footage | 7,066 |
| Acres | 0.61 |
| Year Built | 1883 |
| Type | Multifamily |
| Status | Active |
Community Information
| Address | 926 E Front St |
|---|---|
| Area | 06122 - Monroe |
| Subdivision | NONE |
| City | Monroe city |
| County | Monroe |
| State | Michigan |
| Zip Code | 48161 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Heating | Forced Air, Natural Gas, Separate Meters |
|---|---|
| Fireplace | No |
Exterior
| Foundation | Basement |
|---|
School Information
| District | Monroe |
|---|
Additional Information
| Foreclosure | No |
|---|---|
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | eXp Realty LLC in Monroe |
|---|---|
| Contact Info | jakelevicki@yahoo.com |