714 N Monroe +19 others $2,700,000

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    714 N Monroe +19 others Bay City, MI 48708

    Closed
    SOLD 5/31/2022

    $2,700,000

    Market Estimate
    • 16 Beds
    • 16 Baths
    • Multi-Family
    • MLS# 50063733
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    Views: 200

    Property Details

    A rare opportunity to either jump start your rental portfolio, or expand an empire with 20 turn-key properties, for a total of 41 units! All properties are currently leased at below market rents, so there is immediate potential to increase your revenue once leases expire. All have been inspected, with city rental certifications all up to date. All properties are nicely updated, and well managed. Many have had extensive recent updates, including 5 with newer furnaces (last 5 years or less), 7 with updated windows and municipal approved lead remediation, and 6 others with newer roofs. All properties are equipped with refrigerators & ovens. 714 N. Monroe & 901 Germania have coin operated laundry facilities. Appliances will remain with properties.

    • General Features
      • Acreage 0.5
      • Area Municipality Bay City (09016)
      • ASSOCIATION LANDLORD PAYS Water/Sewer
      • County Bay
      • Municipality Bay City
      • Municipality Type City
      • Subdivision NA
      • Waterfront Y/N No
      • Occupancy STTR
      • ZONING Multi-Family,Residential
      • Year Built 1873
    • Building Features
      • Basement Y/N Yes
      • STYLES Victorian
      • SUB ROOM DESCRIPTION Entry,Utility/Laundry Room,Workshop
      • Structure Style Other/See Remarks
      • Heating System Hot Water
      • Garage Type Detached Garage
      • Garage Num of Car 2.5
      • Foundation Type Basement
      • Fireplace Y/N No
      • Exterior Construction Vinyl Siding, Wood
      • Total Bathrooms 16
      • Full Bathrooms 16
      • Total Units 16
    • Room Features
      • Guest Listings Y/N No
    • Property Features
      • Water Public Water
      • Lot Size 110x200
      • Sewer Septic Public Sanitary
      • Fuel Type Natural Gas
      • Frontage 110
    • Schools
      • School District Bay City School District

    Neighborhood

    48708 (Bay City) Demographics

    41 Median Age
    915 Population Density (per sq. mile)
    26% College Educated
    $40,456 Estimated Median Income
    7,584 Estimated Total Home Owners
    3,582 Estimated Total Renters
    68% / 32% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    26,255 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $134,500 Median Sales Price
    39 Homes Sold
    89 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- New in Database Source: Multiple Listing Service New Value: $2,950,000 9.26%
        5/31/2022 3:00:00 AM Sold Source: Multiple Listing Service New Value: $2,700,000 -5.26%
        5/23/2022 8:04:42 PM Status Changed Source: Multiple Listing Service New Value: Pending
        2/28/2022 1:19:03 PM Price Reduced Source: Multiple Listing Service New Value: $2,850,000
        Listing provided courtesy of the RABC MLS INTERNET DATA EXCHANGE (IDX). Information not legally guaranteed. All items should be independently verified.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.