Washington Arms Apartments 725 Washington St 60 Unit Apartment Building $5,200,000 ($86,667/Unit) 6.91% Cap Rate Monroe, MI 48161

Frenchtown Flats presents a compelling investment opportunity in the heart of Monroe, Michigan. This 60-unit multifamily community spans 111,000 square feet across a 2.55-acre site and is zoned for medium-density residential use. The property features a desirable unit mix of 42 one-bedroom and 18 two-bedroom apartments, catering to a broad tenant base. Recent updates completed in 2025 enhance the property’s appeal and operational efficiency, reducing near-term capital expenditure for new ownership.
Located just half a mile south of Downtown Monroe, the property offers residents convenient access to local amenities, retail, dining, and entertainment options. Its strategic position places it only 20 minutes from Toledo and 45 minutes from Ann Arbor and Detroit, making it an attractive option for commuters and those seeking suburban living with urban connectivity.
With an in-place net operating income of $359,226 and strong occupancy, Frenchtown Flats provides stable cash flow and long-term upside potential. The property’s proximity to Monroe County Community College, major highways, and recreational destinations like Lake Erie further strengthens its market position. This is a rare opportunity to acquire a well-maintained, income-producing asset in a growing regional market.