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USAMILincoln Park1187 Park Ave
Listing image | Image 1

1187 Park Ave, Lincoln Park, MI

House

For Sale

Listed price in listed location currency (USD).
$270,000

030

MLS® 20261071896

Overview

Key Facts

Type Multi Family
Levels Residential Income
Size 2368 sqft
Garage 
Taxes $2,789
Days Active 12
Lot Size 
Approx. Age 1928
Avg. Price Per Sqft $114
MLS® Number 20261071896

Property Address: 1187 Park Ave, Lincoln Park, MI, 48146

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® Number20261071896
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1928
BasementFinished, Full
Driveway
Garage Spaces
HeatForced Air, Natural Gas
A/C

Extras

Price History

Last Sold Price

$132,000$132K

Appreciation

--

Avg. Days Listed

13 days

Today, For Sale for $270,000

Brick exterior with white siding accents, covered front porch, concrete front steps with wrought iron railing, and a concrete driveway
For Sale · 12 days

$270,000

MLS® 20261071896

13 days ago

Not Sold Yet

September 2026, For Sale for $270,000

Brick exterior with white siding accents, covered front porch, concrete front steps with wrought iron railing, and a concrete driveway
For Sale · 12 days

$270,000

MLS® 20261071896

13 days ago

Not Sold Yet

November 2025, Sold for $132,000

Sold · 13 days

$132,000$140,000

MLS® 20251046989

A year ago

Sold on Nov 2, 2025

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