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$270,000
3 Baths 20261071896 MLS
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 for more than 10 years and have taken excellent care of the property. Their long-term tenancy and responsible occupancy contribute to minimal turnover, reduced wear and tear, and limited property management needs. Importantly, new leases reflecting the potential rent increases have not yet been executed, providing a new owner with the ability to raise rents to as much as $3,150 per month at signing, subject to market conditions and lease execution. The asset is 100% occupied, providing immediate cash flow without the execution risk associated with lease-up. During the current ownership period, more than $25,000 was invested in renovations across the property, leaving the next owner with a substantially completed product rather than a value-add project. The owner covers water, gas, and electricity, all of which are reflected in the stabilized NOI. With the renovation program complete, long-term tenants in place, minimal management requirements, and the ability to raise rents to as much as $3,150 per month, 1187 Park represents a finished, income-producing multifamily asset with additional near-term rental upside available to the next owner. No showings without an accepted offer.

1187 Park, Lincoln Park

Courtesy of RE/MAX Leading Edge 3132777777

$499,000
6 Baths 20251010361 MLS
EXCELLENT LINCOLN PARK LOCATION AT THE CORNER OF FERRIS & MILL IN A VERY NICE NEIGHBORHOOD! WALK TO PARKS, SCHOOLS, LOCAL SHOPPING + RESTAURANTS + QUICK, EASY ACCESS TO FORT ST + X-WAYS FOR AN EASY COMMUTE TO WORK! ORIGINAL FAMILY OWNERS SELLING! EXCELLENT CASH FLOW POTENTIAL! RARE OPPORTUNITY TO OWN THIS UNIQUE INCOME PROPERTY W/6 TOTAL UNITS-COMPRISED OF 3 WELL MAINTAINED 1200 SQ FT BRICK RANCH DUPLEXES (TWO-1 BR APTS W/600 SQ FT EACH IN EACH BUILDING) ON A NICE SIZE CORNER LOT W/PLENTY OF CEMENT PARKING AREAS + 1 OF THE BUILDINGS HAS AN ATTACHED 10X12 STORAGE SHED! ALL 3 BLDS HAVE THE CITY OF LINCOLN PARK RENTAL CERTIFICATES OF COMPLIANCE + ALL 3 BUILDINGS HAVE THE CITY OF APPROVAL FOR RESALE TOO! DO NOT TALK TO OR BOTHER THE TENANTS! 1 UNIT CAN BE SHOWN-THE OTHER 5 WILL BE MADE ACCESSIBLE ONLY AFTER AN ACCEPTED OFFER! DO NOT ROAM AROUND THE PROPERTY OR DISTURB THE TENANTS IN ANY WAY! EACH UNIT HAS SEPARATE ELECTRIC & GAS THAT THE TENANTS PAY*EACH BUILDING HAS 1 WATER METER THAT THE OWNER PAYS*EACH UNIT HAS 1 BEDROOM, 1 BATH, LIVING ROOM, EAT-IN KITCHEN + A LAUNDRY/UTILITY ROOM-THE WASHER/DRYER IN THE UNIT BEING SHOWN STAYS W/THE SALE-ALL OTHER WASHER/DRYERS BELONG TO THE TENANTS*ALL 6 HAVE A STOVE & REFRIGERATOR THAT STAY W/THE UNIT AND ARE OWNED BY THE SELLER*ALL TENANTS ARE ON A MONTH TO MONTH RENTAL AGREEMENT-5 OF THE 6 ARE CURRENTLY RENTED*ALL 6 HAVE WALL A/C UNITS*2 PARKING SPACES FOR EACH BUILDING ON THE PROPERTY*NOTE: ACREAGE IS CORRECT .33 – LOT DIMENSIONS ARE APPROXIMATE*

2361 Ferris Ave, Lincoln Park

Courtesy of Real Estate Unlimited, Inc 3133834400

Selling Office: JEM Realty Group, Inc.

$100,000
2 Baths 20250016205 MLS
Great investment or owner-occupant opportunity in the desirable Downriver area! This vacant 2-unit home (now a 2-bed, 1-bath upper unit and a 1-bed, 1-bath lower unit) offers immediate rental income potential. The upper unit has been recently updated with fresh paint and new carpet, while the lower unit is ready for a turnover. The property includes a detached garage, currently used as a shared community space, and comes with a stove and fridge for added convenience. Recent capital improvements include siding repairs on the right side, though the left side still needs attention. The upstairs bathroom floor also requires repair. The home operates on a single water heater for both units. Whether you're looking to house hack or expand your rental portfolio, this property presents long-term value in a high-demand rental market. FHA/VA financing may be considered; however, some properties may require FHA/VA repairs that the seller may not be able to complete. An optimal FHA/VA offer would likely include the buyer covering up to a certain amount of repairs, with any remaining repairs to be addressed separately. Possible package deal available—seller may consider package discounts for a total of four buildings: 531 Bryant St, Kalamazoo, MI 49001, 130 S 8th St, Lansing, MI 48912, 140 Summit St, Pontiac, MI 48342 Don’t miss out—schedule your showing today!

1380 College Ave, Lincoln Park

Courtesy of S&P Realty 7343337219

Selling Office: LPT Realty, LLC.

$190,140
4 Baths 20250003612 MLS
EXCELLENT LINCOLN PARK LOCATION ON HIGHLAND AVE IN THE VERY DESIRABLE EMMONS ORCHARD SUB + WALK TO SCHOOLS, PARKS, LOCAL SHOPPING + RESTAURANTS! SAME OWNERS LAST 46 YEARS! UP TO CITY CODE! GREAT OPPORTUNITY TO OWN THIS INCOME PROPERTY/2 FAMILY HOME (OR LIVE IN 1 & LEASE OUT THE OTHER) W/NICE CASH FLOW POTENTIAL - MAIN LEVEL/BASEMENT WAS LEASED IN 2024 FOR $1400 PER MONTH - UPPER LEVEL CURRENTLY LEASED FOR 1200 PER MONTH*TENANTS PAY THEIR OWN ELECTRIC + GAS-SEPARATE METERS FOR UPPER & LOWER*SPACIOUS 2093 SQ FT BRICK HOME W/AN ALL NEW (2020) COMPLETELY GUTTED/REMODELED UPPER UNIT W/BEAUTIFUL REFINISHED HARDWOOD FLOORS, NEW KITCHEN W/STAINLESS STEEL APPLIANCES, NEW CERAMIC TILE BATH, 2 BEDROOMS (ALL NEW DRYWALL THROUGHOUT UPPER UNIT) + LIVING ROOM W/2 PICTURE WINDOWS FOR LOTS OF NATURAL LIGHT + STEEL DOOR TO A CHARMING/RELAXING BALCONY*MAIN LEVEL UNIT HAS LIVING ROOM + DINING ROOM W/REFINISHED HARDWOOD FLOORS, BATH, 2 BEDROOMS + KITCHEN W/FRENCH STYLE DOOR TO CONVENIENT MUD ROOM (16X6) W/STEEL DOOR TO BACK PORCH*THE FINISHED BASEMENT HAS A LAUNDRY AREA, 2 ADDTIONAL BATHS + MULTIPLE FINISHED ROOMS (1 W/AN EGRESS WINDOW) TO USE HOW YOU’D LIKE*NEWER (2017) DIMENSIONAL ROOF SHINGLES*NEWER FURNACE + CENTRAL AIR FOR UPPER UNIT*2 NEW (2024) 100 AMP CIRCUIT BREAKERS*40 GALLON WATER HEATER FOR UPPER*50 GALLON WATER HEATER FOR MAIN LEVEL/BASEMENT*VINYL WINDOWS THROUGHOUT*2 CAR PARKING PAD-OR YOU COULD BUILD A GARAGE ON IT (CHECK W/BUILDING DEPARTMENT)*MAINTENANCE FREE BRICK + VINYL TRIM EXTERIOR*LARGE (25X9) INVITING COVERED FRONT PORCH*COPPER + PEX PLUMBING*MINIMUM 24 HR NOTICE TO SHOW!*

1105 Highland Ave, Lincoln Park

Courtesy of Real Estate Unlimited, Inc 3133834400

Selling Office: Century 21 Curran & Oberski.

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