Description
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!
Location
Source MLS MiRealSource. Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Copyright MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates, and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning, or any information storage and retrieval system, without written
permission from MiRealSource, Inc. Updated: 24th April, 2026 7:11 PM (UTC)
Copyright MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates, and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning, or any information storage and retrieval system, without written
permission from MiRealSource, Inc. Updated: 24th April, 2026 7:11 PM (UTC)
