701 Center Ave - Apartments FOR SALE


Bay City, MI 48708- Downtown Bay City
$875,000 USD
989-213-7217
701 Center Ave, Bay City, MI for Sale
$875,000 USD
Apartments - FOR SALE
1/53
null | Request Cap Rate

701 Center Ave
Bay City, MI 48708
Downtown Bay City


HIGHLIGHTS

  • Please see the repair document that states what was done to the property in the last year.

OVERVIEW

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. Located just steps from downtown Bay City, the property offers walkable access to dining, shopping, and entertainment. This is a rare opportunity to own a historically significant property with strong potential in a prime location.

FOR SALE DETAILS

PRICE

$875,000 USD

PRICE/SF

$118 USD /SF

# OF UNITS

16

PRICE/UNIT

$54,688

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1876

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

MF

APN/PARCEL ID

09-160-021-454-003-00

ASK ABOUT THIS PROPERTY

Drew DenhamDrew Denham Real EstateMore Info
989-213-7217

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Drew DenhamDrew Denham Real EstateMore Info
989-213-7217

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.