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,… Read More 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! Read Less
Courtesy of Real Estate One in Monroe.
Listing Snapshot
Days Online
269
Last Updated
Property Type
Commercial/Industrial
Square Ft.
7,066
Lot Size
0.61 Acres
Year Built
1883
MLS Number
50180679
Additional Details
Building
7,066 square feet, Built in 1883
Water Features
Public Water
Lot
0.61 acres, Lot size: 128x209
Property
Apartment Bldg
Sewer
Public Sanitary
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