NOT LISTED FOR SALE
23 Beds
12 Baths
12,204 Sq Ft
0.77 Acres

Last Sold August 25, 2023

Last sale price $970,000 $79 Per Sq Ft

49 Days on Market

Highlights

  • 0.77 Acre Lot
  • Lobby
  • Laundry Facilities
  • Patio
  • Baseboard Heating

About This Home

As of August 2023

Incredible Investment Opportunity. A 12 unit (11-two bedrooms & 1-one-bedroom) brick colonial style building, a great location with a walkscore of 83. This very walkable location attracts tenants easily with beautiful local amenities, such as the River Raisin, St Mary's Park, bars, restaurants, coffee and an 8 minute walk to downtown Monroe. Current annual gross income of $145k. All 12 units have been consistently rented over the years of ownership. The property is nestled off the road, making it feel private with a beautiful mature landscape surrounding it. All apartments are furnished with a refrigerator, stove, furnace and built-in wall A/C. All tenants on separate meters for gas/electric, the property owner pays the water. All units have interior entrances. A total of 20 parking spots. Coin Laundry on site. Owner has renovated 9 of the 12 apartments over the last two years.

Last Agent to Sell the Property

Chris Griffin

Griffin Properties & Management Co License #6504371176 Listed on: 04/17/2023

Last Buyer's Agent

Divakar Doddapaneni

Powell Real Estate License #6501431655

Powell Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1970

Lot Details

  • 0.77 Acre Lot
  • Lot Dimensions are 90.00 x 372.00

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Asphalt Roof

Interior Spaces

  • 12 Full Bathrooms
  • 12,204 Sq Ft Home
  • 3-Story Property

Parking

  • 20 Parking Spaces
  • Paved Parking

Outdoor Features

  • Patio

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Back Up Electric Heat Pump System
  • Baseboard Heating
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number 58556900014001

Community Details

Overview

  • 12 Units
  • Anderson Plat Subdivision

Amenities

  • Laundry Facilities
  • Lobby

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,864

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Common Entry Building
  • Architecture Level: 3 Story
  • Year Built: 1970
  • State Equalized Value: 303820.0000
  • Pets Allowed: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3

Interior Features

  • Interior Amenities: Circuit Breakers, Laundry Facility
  • Total Bathrooms: 12.00
  • Full Bathrooms: 12
  • Total Sq Ft: 12204

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Slab
  • Construction Materials: Brick, Brick Veneer (Brick Siding)
  • Porch Type: Patio
  • Road Frontage Type: Paved

Garage/Parking

  • MF Parking: Paved
  • Total Parking Spaces: 20

Utilities

  • Heating Fuel: Electric
  • Cooling: Wall Unit(s)
  • Heating: Baseboard
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Electric
  • Water Source: Public (Municipal)
  • Laundry Facilities: Yes

Fee Information

  • Operating Expense: 37732.00

Lot Info

  • Lot Size Area: 0.77
  • Lot Dimensions: 90.00 x 372.00
  • Parcel Number: 58556900014001
  • Zoning: Multi-Family

Rental Info

  • Rent Includes: Water/Sewer, Snow Removal, Trash Collection (Garbage Pickup), Water, Yard Maintenance
  • Monthly Rental Income: 12085

Tax Info

  • Tax Amount Summer: 9631.0000
  • Tax Amount Winter: 9233.0000
  • Total Tax: 18864.0000
  • Taxable Value: 303820.0000

Multi Family

  • Gross Scheduled Income: 145020.00
  • Number Of Units Total: 12

MLS Schools

  • School District: Monroe
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/25/2023 08/25/23 Sold $970,000 -13.1% $79 / Sq Ft
06/05/2023 06/05/23 Pending -- -- --
05/15/2023 05/15/23 For Sale $1,116,000 0.0% $91 / Sq Ft
05/09/2023 05/09/23 Pending -- -- --
04/17/2023 04/17/23 For Sale $1,116,000 +86.0% $91 / Sq Ft
02/24/2021 02/24/21 Sold $600,000 0.0% $49 / Sq Ft View Prior Sale
01/15/2021 01/15/21 Pending -- -- --
01/11/2021 01/11/21 For Sale $600,000 +31.9% $49 / Sq Ft
09/13/2017 09/13/17 Sold $455,000 0.0% $37 / Sq Ft View Prior Sale
08/08/2017 08/08/17 Off Market $455,000 -- --
07/07/2017 07/07/17 Pending -- -- --
03/12/2017 03/12/17 For Sale $489,000 -- $40 / Sq Ft
Source: Realcomp

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $9,776 $307,700 $39,340 $268,360
2024 $9,623 $307,740 $0 $0
2023 $9,821 $303,820 $0 $0
2022 $18,864 $303,820 $0 $0
2021 $14,043 $226,550 $0 $0
2020 $13,565 $228,990 $0 $0
2019 $12,995 $228,990 $0 $0
2018 $12,647 $145,610 $0 $0
2017 $8,434 $145,610 $0 $0
2016 $9,073 $145,610 $0 $0
2015 $8,135 $144,170 $0 $0
2014 $8,135 $144,170 $0 $0
2013 -- $142,990 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Realcomp

MLS Number: 20230027592

Realcomp