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708 E Front Monroe, MI 48161
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Key Details
Sold Price $475,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,500 sqft
Price per Sqft $73
Subdivision Mi
MLS Listing ID 50076970
Sold Date 07/27/22
Style 2 Story
Bedrooms 18
Full Baths 11
Year Built 1955
Annual Tax Amount $8,500
Lot Size 0.480 Acres
Acres 0.48
Lot Dimensions 160X141
Property Description
Ready for some cashflow? Current Owner Estate is excited to sell this 11 unit property which produces over $100,000 in Rents, has more rent potential, and is turn key ready to go. All 11 units are fully leased. Located river-front making this a great long-term investment. Property is currently managed by property management company who is excited about taking on the new owner. Historical Cap rate is over 10, with a potential of 12-15. Majority of tenants are long-term (greater than 8 years). Mix of section 8 tenants also. Owner provides trash, landscaping and snow removal.
Location
State MI
County Monroe
Area Monroe (58026)
Zoning Multi-Family
Rooms
Basement Poured
Interior
Heating Boiler, Other-See Remarks
Fireplace No
Exterior
Exterior Feature Brick
Waterfront No
Building
Story 2 Story
Foundation Basement, Crawl
Water Public Water
Structure Type Brick
Schools
School District Monroe Public Schools
Others
Ownership Private
SqFt Source Estimated
Energy Description Natural Gas
Acceptable Financing Cash
Listing Terms Cash
Financing Cash,Conventional
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Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Bought with Stewart Team R E Partners Inc
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