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.
McLaughlin, located between Downtown Muskegon and Muskegon Lake, is a residential and historic Muskegon neighborhood with tree-lined blocks and a walkable street grid. The neighborhood’s character concentrates around Western Avenue near Hackley Park, where coffee counters, galleries, and small storefronts set a steady daytime rhythm. Early-20th-century houses and compact lots give the streets a classic Lakeshore-city feel, with porches and mature shade trees. Hackley & Hume Historic Site and the Muskegon Museum of Art add a cultural backbone close by. The Frauenthal Center anchors the calendar with performances in a restored theater setting. Waterfront paths and marina views along Muskegon Lake shape the local geography.
Provided by Walk Score and Local Logic
Market insights
1223 Terrace St · $360,000
DAYS ON MARKET
177 days
The average home goes pending in 35 days.
SALE-TO-LIST
97.0%
Most homes are selling 3% below list price.
LIST PRICE
$360,000
Median list price in this area is $216,809. (40% lower than this home)
PRICE DROP
3 price drops
30% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Full basement
Bedrooms
One 3-bedroom unit (Unit B)
One 2-bedroom unit (Unit C)
Two 1-bedroom units (Units A and D)
Bathrooms
One 2-bed unit has 2 bathrooms
Each 1-bed unit has 1 bathroom
The 2-bedroom unit has 1 bathroom
Heating & cooling
Hot water heating (natural gas)
Exterior features
Paved road access
Paved parking
Home design
Multi-family residential income property
Zoned for light industry
Parking
Garage parking
Total of 4 parking spaces
Construction
Wood siding
Composition roof
Utilities
Public water
Public sewer
Electricity connected
Natural gas connected
Cable connected
Phone connected
Financial info
Listed rents by unit: Unit B (3-bed) $1,200; Unit C (2-bed) $900; Unit A (1-bed) $1,000; Unit D (1-bed) $800
Electricity and solar
View estimated energy costs and solar savings for this home
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.
REALCOMP #65026024005
Sep 23, 2026
Price Changed
$360,000
Jul 27, 2026
Price Changed
$375,000
Jul 7, 2026
Price Changed
$385,000
May 21, 2026
Listed
$400,000
RENT. #1
May 12, 2022
Price Changed
$950
Public Records
Sep 29, 2021
Sold
$230,000
Public Records
Dec 14, 2016
Sold
$68,000
SW Michigan MLS #14030787
Sep 30, 2014
Listing Removed
—
Jun 3, 2014
Listed
$89,000
REALCOMP #71014030787
Sep 30, 2014
Listing Removed
—
Jun 3, 2014
Listed
$89,000
SW Michigan MLS #2320894
Sep 15, 2014
Listing Removed
—
Jun 4, 2003
Listed
$127,900
Public Records
Feb 26, 2002
Sold
$10,500
Year
Property tax
Land + Additions
Assessment*
2025
$3,601 (+23.2%)
2024
$2,922 (+3.4%)
2023
$2,826 (+5.5%)
2022
$2,679 (+53.2%)
2021
$1,748 (+1.1%)
2020
$1,728 (+5.7%)
2019
$1,636 (+2.3%)
2018
$1,599 (+3.2%)
2017
$1,550 (−6.2%)
2016
$1,653 (+2.7%)
2015
$1,609
Public record
Public record
Permits
Beds
—
Baths
1
Stories
—
Lot width
—
Lot depth
—
Lot size
8,712 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
—
Unfinished Sq. Ft.
—
Total Sq. Ft.
—
Year built
—
Style
Single Family Residential
County
Muskegon County
APN
24-205-243-0010-00
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Oct 28, 2026.
Jun 30, 2022 • Final
Building
Remodel
Sep 15, 2021 • Final
Electrical
Electrical
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
2/10 Heat Factor
7 days above 93° expected this year, 15 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
4/10 Air Factor
4 unhealthy days expected this year, 6 days in 30 years
Provided by First Street
Historical weather
Muskegon, MI • 49442
Average low and high temperatures (°F)
29°
18°
33°
20°
49°
30°
59°
39°
66°
46°
79°
59°
84°
64°
79°
60°
75°
53°
62°
45°
48°
36°
35°
25°
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
90/ 100
Exceptional sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.9 hrs
4.8 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 1223 Terrace St
$343,833
$16K under list price of $360K
Nearby comparable homes
The Redfin Estimate uses 5 recent nearby sales, priced between $170K to $235K.