49
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$425,000
Est. payment /mo
0.62 Acres Lot
New
1500 Center Avenue Bay City, MI 48708-5101
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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 70540723
Year Built 1900
Annual Tax Amount $4,224
Tax Year 2025
Lot Size 0.620 Acres
Acres 0.62
Lot Dimensions 100x135
Property Sub-Type Multi-Family
Property Description
Welcome to 1500 Center Ave! A rare opportunity to acquire a 7-unit apartment building in the heart of Bay City's historic Center Avenue corridor. Owned by the same family for the past 30 years, this property offers stable occupancy and significant upside potential.Recent improvements include a complete rebuild of the steam boiler system, a new porch roof, and a new garage roof, helping reduce future capital expenditure needs.Located on one of Bay City's most iconic streets, the property is fully occupied and benefits from strong rental demand in the area. The property also features a detached garage and off-street parking, amenities that are increasingly difficult to find in historic multifamily properties.With below-market rents and long-term ownership, investors will appreciate the opportunity to increase income over time while acquiring a well-maintained asset in a highly desirable location. Whether you're looking for a long-term hold or a value-add investment,
Location
State MI
County Bay
Area Bay City (09016)
Zoning Commercial
Interior
Heating Steam
Exterior
Exterior Feature Other, Vinyl Siding, Wood
Amenities Available Laundry Facility
Building
Lot Description Sidewalks
Foundation Basement
Structure Type Other,Vinyl Siding,Wood
Others
Energy Description Natural Gas
Financing Cash
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Keller Williams GR North
NEARBY SCHOOL & BUSINESS
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