Estimated payment $5,304/month
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, 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!
| 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 | $6,661 | $262,900 | $39,420 | $223,480 |
| 2024 | $6,359 | $203,340 | $0 | $0 |
| 2023 | $10,230 | $199,920 | $0 | $0 |
| 2022 | $10,230 | $199,920 | $0 | $0 |
| 2021 | $9,887 | $173,440 | $0 | $0 |
| 2020 | $9,368 | $174,840 | $0 | $0 |
| 2019 | $8,974 | $174,840 | $0 | $0 |
| 2018 | $8,733 | $147,670 | $0 | $0 |
| 2017 | $8,553 | $147,670 | $0 | $0 |
| 2016 | $8,462 | $147,670 | $0 | $0 |
| 2015 | $8,249 | $146,200 | $0 | $0 |
| 2014 | $8,249 | $146,200 | $0 | $0 |
| 2013 | -- | $145,000 | $0 | $0 |
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 12/04/2025 12/04/25 | Price Changed | $819,900 | -2.4% | $116 / Sq Ft | |
| 10/24/2025 10/24/25 | Price Changed | $839,900 | -2.3% | $119 / Sq Ft | |
| 09/15/2025 09/15/25 | Price Changed | $859,900 | -2.3% | $122 / Sq Ft | |
| 08/15/2025 08/15/25 | Price Changed | $879,900 | -2.2% | $125 / Sq Ft | |
| 07/03/2025 07/03/25 | Price Changed | $899,900 | +7.1% | $127 / Sq Ft | |
| 07/03/2025 07/03/25 | For Sale | $840,000 | +61.5% | $119 / Sq Ft | |
| 12/30/2022 12/30/22 | Sold | $520,000 | -16.1% | $74 / Sq Ft | View Prior Sale |
| 12/08/2022 12/08/22 | Pending | -- | -- | -- | |
| 07/12/2022 07/12/22 | For Sale | $620,000 | -- | $88 / Sq Ft |
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $520,000 | -- | |
| Quit Claim Deed | -- | -- | |
| Deed | $160,000 | -- |
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $420,000 | New Conventional |
As a top-producing Realtor serving Southeast Michigan, I take pride in delivering results while building lasting relationships. Whether you're buying your first home, upsizing, downsizing, or investing, I’m here to guide you through every step of the process. Backed by the Welch Real Estate Team and eXp Realty, I combine local expertise with strong negotiation skills and a modern marketing approach to get homes sold quickly and for top dollar. I’ve been honored to be recognized as one of Monroe
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Source: Michigan Multiple Listing Service
MLS Number: 50180653
APN: 55-49-01491-000
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Source MLS: MiRealSource
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