Large 4-unit investment property at 1223 Terrace St, Muskegon, in an excellent location near downtown and surrounded by ongoing neighborhood revitalization.Situated in the historic McLaughlin District, a well-established neighborhood known for its historic character and proximity to downtown Muskegon. Excellent cash-flow opportunity for investors or owner-occupants. Photos available. Serious inquiries only.
Current rents:Unit A - $1,000/month (large 1BR/1BA), currently vacant for easy showingsUnit B - $1,200/month (3BR/2BA)Unit C - $900/month (2BR/1BA)Unit D - $850/month (1BR/1BA)
All rents offer potential for future increases. Long-term, reliable tenants with a strong payment history.
Recent improvements include full remodeling of all units between 2021 and 2024, a new roof in 2022, and a new boiler in 2023.
Active
Price cut: $10K (7/27)
$375,000
1223 Terrace St, Muskegon, MI 49442
7beds
5baths
3,850sqft
2 to 4 Units
Built in 1899
-- sqft lot
$365,500 Zestimate®
$97/sqft
$-- HOA
What's special
- 92 days |
- 501 |
- 40 |
Zillow last checked:
Listing updated:
Listed by:
Kevin Cole 616-551-6129,
Bellabay Realty LLC 616-871-9200
Source: MichRIC,MLS#: 26024005
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 5
Heating
- Hot Water
Features
- Basement: Full
Interior area
- Total interior livable area: 3,850 sqft
Property
Parking
- Total spaces: 4
- Parking features: Paved
Lot
- Size: 8,712 Square Feet
- Dimensions: 66 x 132
Details
- Parcel number: 24205243001000
- Zoning description: RM-1
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 2 to 4 Units
Materials
- Wood Siding
- Roof: Composition
Condition
- New construction: No
- Year built: 1899
Utilities & green energy
- Utilities for property: Natural Gas Available, Electricity Available, Cable Available, Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected
Community & HOA
Location
- Region: Muskegon
Financial & listing details
- Price per square foot: $97/sqft
- Tax assessed value: $58,649
- Annual tax amount: $1
- Date on market: 5/21/2026
- Listing terms: VA Loan,FHA,Cash,Conventional
- Tenant pays: Electricity
- Electric utility on property: Yes
- Road surface type: Paved
Estimated market value
$365,500
$347,000 - $384,000
$1,278/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/27/2026 | Price change | $375,000-2.6%$97/sqft |
Source:  MichRIC #26024005 Report a problem | ||
| 7/7/2026 | Price change | $385,000-3.8%$100/sqft |
Source: MichRIC #26024005 Report a problem | ||
| 5/21/2026 | Listed for sale | $400,000+14.3%$104/sqft |
Source: MichRIC #26024005 Report a problem | ||
| 9/21/2022 | Listing removed | -- |
Source: Owner Report a problem | ||
| 6/3/2022 | Listed for sale | $350,000+52.2%$91/sqft |
Source: Owner Report a problem | ||
| 9/29/2021 | Sold | $230,000+238.2%$60/sqft |
Source: Public Record Report a problem | ||
| 12/14/2016 | Sold | $68,000+88.9%$18/sqft |
Source: Public Record Report a problem | ||
| 11/8/2016 | Sold | $36,000-34.5%$9/sqft |
Source: Public Record Report a problem | ||
| 1/14/2016 | Sold | $55,000+1548.2%$14/sqft |
Source: Public Record Report a problem | ||
| 2/20/2012 | Sold | $3,337$1/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,922 +3.4% | $85,800 +59.5% |
| 2024 | $2,826 +5.5% | $53,800 +4.9% |
| 2023 | $2,679 | $51,300 +19.9% |
| 2022 | -- | $42,800 +15.4% |
| 2021 | $1,728 | $37,100 +2.5% |
| 2020 | $1,728 +484.8% | $36,200 +624% |
| 2018 | $296 | $5,000 -79.6% |
| 2017 | -- | $24,500 -9.9% |
| 2016 | -- | $27,200 |
| 2015 | -- | $27,200 +0.7% |
| 2014 | -- | $27,000 +3.8% |
| 2013 | -- | $26,000 -7.8% |
| 2012 | -- | $28,200 -8.1% |
| 2011 | -- | $30,700 |
| 2010 | -- | $30,700 -8.1% |
| 2009 | -- | $33,400 -0.3% |
| 2008 | -- | $33,500 +4.7% |
| 2007 | -- | $32,000 |
| 2006 | -- | $32,000 +2.6% |
| 2005 | -- | $31,200 +1.6% |
| 2004 | -- | $30,700 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 49442
Nearby schools
GreatSchools rating
- NAMoon Elementary SchoolGrades: PK-5Distance: 0.8 mi
- 3/10Charles Hackley Middle SchoolGrades: 6-8Distance: 0.7 mi
- 4/10Muskegon High SchoolGrades: 9-12Distance: 0.4 mi
- $--3 bd2 ba1k sqft1223 Terrace St UNIT B, Muskegon, MI 49442Off Market
- $1,0001 bd1 ba800 sqft1223 Terrace St #A, Muskegon, MI 49442For Rent
- $--2 bd1 ba1k sqft1223 Terrace St APT D, Muskegon, MI 49442Off Market
- $--1 bd1 ba800 sqft1223 Terrace St APT C, Muskegon, MI 49442Off Market
- $--1 bd1 ba900 sqft1231 Terrace St UNIT 1233-2, Muskegon, MI 49442Off Market
- $94,8001 bd1 ba400 sqft1231 Terrace St #1233-1, Muskegon, MI 49442Off Market
- $--1 bd1 ba-- sqft1231 Terrace St #2-1233, Muskegon, MI 49442Off Market
- $--1 bd1 ba900 sqft1231 Terrace St APT 2, Muskegon, MI 49442Off Market
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
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