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701 Center Ave 16 Unit Apartment Building $819,900 ($51,244/Unit) Bay City, MI 48708
Investment Highlights
- Please see the repair document that states what was done to the property in the last year.
Executive Summary
Airbnb powerhouse! Welcome to 701 Center Ave, a beautifully restored Second Empire home built in 1876 by James and Margaret Shearer. This historic gem features 16 units—5 one-bedrooms, 1 two-bedroom, and 10 studios—blending timeless elegance with modern upgrades. Inside, you'll find preserved architectural details including a grand staircase, ornate plasterwork, and fireplaces, along with recent improvements such as a new roof, refinished windows, new gutters, off-street parking, on-site laundry, and efficient boiler heat (with gas, water, and sewer covered by the owner). Currently, 9 units are operating as Airbnbs with high upside, while the remaining units are leased to long-term tenants, offering steady income and room for future growth.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $819,900 | Building Class | C |
| Price Per Unit | $51,244 | Lot Size | 0.33 AC |
| Sale Type | Investment | Building Size | 7,428 SF |
| No. Units | 16 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1876 |
| Property Subtype | Apartment | Parking Ratio | 2.29/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MF - Residential, multi-family | ||
| Price | $819,900 |
| Price Per Unit | $51,244 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 7,428 SF |
| No. Stories | 3 |
| Year Built | 1876 |
| Parking Ratio | 2.29/1,000 SF |
| Zoning | MF - Residential, multi-family |
Amenities
Unit Amenities
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Walk-In Closets
- Basement
- Smoke Free
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | $695.00 | 390 |
| 1+1 | 5 | $800.00 | 570 |
| 2+1 | 1 | $900.00 | 678 |
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Walk Score®
Very Walkable (87)
Property Taxes
| Parcel Number | 09-160-021-454-003-00 | Total Assessment | $302,900 |
| Land Assessment | $0 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
09-160-021-454-003-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$302,900
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Presented by
Drew Denham Real Estate
701 Center Ave
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