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
$400,000
1223 Terrace St, Muskegon, MI 49442
7beds
5baths
3,850sqft
2 to 4 Units
Built in 1899
-- sqft lot
$384,300 Zestimate®
$104/sqft
$-- HOA
What's special
- 42 days |
- 489 |
- 32 |
Zillow last checked:
Listing updated:
Listed by:
Kevin Cole 616-551-6129,
Bellabay Realty LLC 616-871-9200
Source: MichRIC,MLS#: 26024005
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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: $104/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
$384,300
$365,000 - $404,000
$1,276/mo
Price history
| Date | Event | Price |
|---|---|---|
| 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 | -- | $30,700 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
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
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.
- Michigan
- Muskegon County
- Muskegon
- 49442
- 1223 Terrace St
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Other Muskegon Topics
