$270,000
Square Ft.
1,868
1187 Park, Lincoln Park, MI 48146
Turnkey, Fully Occupied Triplex Renovated $24,000 Stabilized NOI 1187 Park Avenue offers investors the opportunity to acquire a fully occupied, recently renovated triplex with stabilized operations, long-term tenants, and limited near-term capital needs. The property is configured as two 2-bedroom, 1-bathroom apartments and one 1-bedroom, 1-bathroom basement apartment, providing a practical and attractive unit mix for both investors and residents. The property currently generates $2,025 per month in rental income, with the current rent roll offering the potential to increase to as much as $3,150 per month, creating additional upside beyond current income. The property benefits from an exceptionally stable tenant profile, with tenants who have occupied the building forRead MoreRead Less
Listing information is provided in part through IDX via MiRealSource and is deemed reliable but not guaranteed. All properties are subject to prior sale, change, or withdrawal. Listing is courtesy of RE/MAX Leading Edge, 313-277-7777, the brokerage and MiRealSource Shareholder that originated the listing.
Listing Snapshot
Days Online
1
Last Updated
Property Type
Multi-Family
Square Ft.
1,868
MLS Number
61027888
Property Location Map
Additional Details
Property Access
Paved Street
Basement
Block, Finished
Building
1,868 square feet, 3 total units, Built in 1928, Colonial
Exterior Features
Brick
Foundation
Basement
Water Features
Public Water
Heating
Natural Gas, Forced Air
Income
Net operating income: $24,000
Lot
Lot size: 10x15
Property
Residential
Taxes
Total amount: $2,789

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

Copyright MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.

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(Source: Home Junction)

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