66
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$385,000
Est. payment /mo
8,712 Sqft Lot
Price Dropped by $15K
1223 Terrace Street Muskegon, MI 49442-3458
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Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Mi
MLS Listing ID 70533702
Year Built 1899
Annual Tax Amount $1
Tax Year 2025
Lot Size 8,712 Sqft
Acres 0.2
Lot Dimensions 66x132
Property Sub-Type Multi-Family
Property Description
Large 4-unit investment property at 1223 Terrace St, Muskegon, in an excellent location near downtown and surrounded by ongoing neighborhood revitalization.Situated in the historic McLaughlin District, a well-established neighborhood known for its historic character and proximity to downtown Muskegon. Excellent cash-flow opportunity for investors or owner-occupants. Photos available. Serious inquiries only.Current rents:Unit A - $1,000/month (large 1BR/1BA), currently vacant for easy showingsUnit B - $1,200/month (3BR/2BA)Unit C - $900/month (2BR/1BA)Unit D - $850/month (1BR/1BA)All rents offer potential for future increases. Long-term, reliable tenants with a strong payment history.Recent improvements include full remodeling of all units between 2021 and 2024, a new roof in 2022, and a new boiler in 2023.
Location
State MI
County Muskegon
Area Muskegon (61023)
Interior
Heating Hot Water
Exterior
Exterior Feature Wood
Parking Features Additional Garage(s)
Building
Foundation Basement
Structure Type Wood
Schools
School District Muskegon Public Schools
Others
Energy Description Natural Gas
Financing Cash,Conventional,FHA,VA
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Bellabay Realty LLC
NEARBY SCHOOL & BUSINESS
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