Multi-Unit Multifamily
For Sale
$159,000
676 Catherine Ave, Muskegon, MI 49442
Updated electrical systems and an enclosed side patio provide additional functional flexibility.
Property Size1,388 SF
Lot Size0.11 Acres
Price / SF$114.55
Days on Market23
Property Features for 676 Catherine Ave
General Information
Standard status
Active
Size
1,388 SF
Lot size
0.11 Acres
Property subtype
Multi-Family
Amenities
enclosed patio
Building Details
Year Built
1800
Listing Agency:
Nexgen Realty
(810) 987-1100
Listed By:
Oak & Stone Real Estate
(248) 266-0584
Source:
Oakandstonerealestate
Added: Sep 14
Changed: Oct 6
Last Checked: Oct 5 at 6:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nexgen Realty
Investment Insights
Based on property information with market context.
This multifamily property in Muskegon is arranged in a 2 to 4 unit configuration, offering a flexible structure for residential use. The property sits on a 4,879-square-foot lot and was built in 1800.
Recent improvements include updated electrical systems and an enclosed side patio that may serve as a dining area. The property is located at 676 Catherine Ave in Muskegon, Michigan, providing an established residential setting for a multi-unit asset.
Recent improvements include updated electrical systems and an enclosed side patio that may serve as a dining area. The property is located at 676 Catherine Ave in Muskegon, Michigan, providing an established residential setting for a multi-unit asset.
Key Highlights
- 2 to 4 unit configuration
- 4,879‑square‑foot lot
- Updated electrical systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,020
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$240,400
$240.4K
Cap Rate 7%
$171,714
$171.7K
Cap Rate 9%
$133,556
$133.6K
Market Conditions
NOI Build-Up for 1,388 SF
Gross rent
$23.2K $16.68/SF
− Vacancy
−$1.3K −$0.93/SF
EGI
$21.9K $15.75/SF
− OpEx
−$9.8K −$7.09/SF
NOI
$12.0K $8.66/SF
Area
Muskegon County, MI
Vacancy
5.60%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$240,400
Cap Rate 7%
$171,714
Cap Rate 9%
$133,556
Alternative Uses
Best Use
Apartment 5plus
$171.7K
$150.3K – $200.3K
NOI $12,020 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$13.03M
$11.41M – $15.21M
NOI $912,433 @ 7.0% cap · market cap 573.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 49442, MI
45,342
Population
17,759
Households
2.6
Avg Household Size
37
Median Age
11%
College-Educated
87%
High-School Grad
41.0 sq mi
ZIP Area
1,106
Density / Sq Mi
$50,069
Median Household Income
$33,257
Median Earnings
$889
Median Rent
$116,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Updated electrical systems and an enclosed side patio provide additional functional flexibility.
Where is this multifamily property located?
The property is located at 676 Catherine Ave Muskegon, MI.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 2 to 4 unit configuration; 4,879‑square‑foot lot; Updated electrical systems
