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32044836
32044830

1470 PARIS AVE, LINCOLN PARK, MI 48146

CENTURY 21 Curran & Oberski  Dearborn Heights
Listed by CENTURY 21 Curran & Oberski Dearborn Heights
$1,399,000
39 days on market
Updated 38 days ago

1470 PARIS AVE LINCOLN PARK MI 48146

Details
APN 45 003 10 0236 300
Property Type Retail, Multifamily
Sub Type Apartment Building
Square Footage 7,500
Units 12
Cap Rate 7.85%
NOI $109,848
Occupancy 100%
Tenancy Multi
Lease Expiration 11/30/2026
Price per SqFt $187
Year Built 1991
Year Renovated 2024
Stories 1
Acreage 0.590
Zoning Neighborhood Business
Parking Spaces 17 spaces
Parking Per SqFt 2.27
Tenant Credit No Credit Rating
Lease Commencement 04/29/2026
Ground Lease No

FULLY RENOVATED 12-UNIT | STABLE INCOME | LOW MAINTENANCE INVESTMENT

Marketing description

EXCEPTIONAL INVESTMENT OPPORTUNITY IN THE HEART OF LINCOLN PARK!

THIS FULLY RENOVATED MULTI-FAMILY PROPERTY FEATURES 12 UNITS, EACH OFFERING 1 BEDROOM, 1 BATHROOM, FULL KITCHEN, AND SPACIOUS LIVING AREA.

THE BUILDING HAS BEEN COMPLETELY UPDATED, PROVIDING A TURNKEY OPPORTUNITY FOR INVESTORS SEEKING STABLE CASH FLOW WITH MINIMAL MAINTENANCE. EACH UNIT IS SEPARATELY METERED FOR UTILITIES (TENANTS PAY THEIR OWN ELECTRIC & GAS), WITH OWNER RESPONSIBLE FOR WATER ONLY, MAXIMIZING NET OPERATING INCOME.

LOCATED IN A HIGH-DEMAND RENTAL AREA, THIS PROPERTY OFFERS STRONG TENANT APPEAL AND CONSISTENT OCCUPANCY POTENTIAL. PERFECT FOR BOTH NEW AND SEASONED INVESTORS LOOKING TO ADD A LOW-MAINTENANCE, INCOME-PRODUCING ASSET TO THEIR PORTFOLIO. 01/03/2024

Investment highlights

EXCEPTIONAL INVESTMENT OPPORTUNITY IN THE HEART OF LINCOLN PARK!

THIS FULLY RENOVATED MULTI-FAMILY PROPERTY FEATURES 12 UNITS, EACH OFFERING 1 BEDROOM, 1 BATHROOM, FULL KITCHEN, AND SPACIOUS LIVING AREA.

THE BUILDING HAS BEEN COMPLETELY UPDATED, PROVIDING A TURNKEY OPPORTUNITY FOR INVESTORS SEEKING STABLE CASH FLOW WITH MINIMAL MAINTENANCE. EACH UNIT IS SEPARATELY METERED FOR UTILITIES (TENANTS PAY THEIR OWN ELECTRIC & GAS), WITH OWNER RESPONSIBLE FOR WATER ONLY, MAXIMIZING NET OPERATING INCOME.

LOCATED IN A HIGH-DEMAND RENTAL AREA, THIS PROPERTY OFFERS STRONG TENANT APPEAL AND CONSISTENT OCCUPANCY POTENTIAL. PERFECT FOR BOTH NEW AND SEASONED INVESTORS LOOKING TO ADD A LOW-MAINTENANCE, INCOME-PRODUCING ASSET TO THEIR PORTFOLIO.

Listing Contacts

CENTURY 21 Curran & Oberski  Dearborn Heights
Listed by CENTURY 21 Curran & Oberski Dearborn Heights

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$109,848.00
$9,154.00/mo

Valuation Metrics

0
DSCR
7.85%
Cap Rate
7.85%
ROI

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