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1187 Park, Lincoln Park, MI 48146

Lincoln Park
Local realty services provided by:CENTURY 21 Northland
1187 Park,Lincoln Park, MI 48146
$260,000
  • - Beds
  • 3 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: charlotte tumminello
Office: re/max leading edge
MLS#:61027888
Source:MI_REALSOURCE

Price summary

  • Price:$260,000

About this home

Turnkey, Fully Occupied Triplex | Extensively Renovated | $260,000 | 7.7% Current Cap Rate | 9.2% Potential Cap Rate 1187 Park Avenue offers investors the opportunity to acquire a fully occupied, low-maintenance triplex for $260,000, with established rental income, substantial recent capital improvements, and attractive potential for long-term returns. The property comprises two 2-bedroom, 1-bathroom apartments and one legal 1-bedroom, 1-bathroom basement apartment. The property currently generates $2,700 per month in rental income, equivalent to $32,400 annually, supporting an estimated $20,000 annual NOI and a 7.7% in-place cap rate. With potential NOI of approximately $24,000, the property offers a 9.2% potential cap rate, alongside a 12.5% gross rental yield at the asking price. The property has benefited from substantial recent capital investment, including: A brand-new furnace and newer water heater Approximately $5,000 invested in comprehensive gas line repairs Replacement of...

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Home facts

  • Year built:1928
  • Listing ID #:61027888
  • Added:48 day(s) ago
  • Updated:October 22, 2026 at 02:41 PM

Rooms and interior

  • Total bathrooms:3
  • Full bathrooms:3
  • Basement Description:Block, Finished

Heating and cooling

  • Heating:Forced Air

Structure and exterior

  • Year built:1928
  • Construction Materials:Brick
  • Foundation Description:Basement, Block

Utilities

  • Water:Public Water

Finances and disclosures

  • Price:$260,000
  • Tax amount:$2,789
MLS LogoProvided 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 2026 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. MI_REALSOURCE Member Broker: Brad Platt

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