926 E Front Street, Monroe, MI 48161 (MLS # 50180679)
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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!
| DAYS ON MARKET | 30 | LAST UPDATED | 7/3/2025 |
|---|---|---|---|
| YEAR BUILT | 1883 | COMMUNITY | Monroe (58026) |
| COUNTY | Monroe | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AREA | Monroe (58026) |
|---|---|
| EXTERIOR | Frontage: 128 |
| INTERIOR | Apartment Bldg |
| LOT | 0.61 acre(s) |
| LOT DIMENSIONS | 128x209 |
| SEWER | Public Sanitary |
| WATER | Public Water |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Source MLS: MiRealSource
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