1187 Park, Lincoln Park, MI 48146

• 3 baths |
• 1,868 sqft

Property 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.

Listing Status:

Active

Date Added:

September 7, 2026

Data Last Updated:

September 23, 2026 at 3:45PM

Listing Office:

RE/MAX Leading Edge : 313-277-7777

Listing Agent:

Charlotte Tumminello : 734-756-3997

MLS ID:

61027888

Interior

• Basement: BlockFinished
• Heating: Forced Air

Exterior

• Style: Colonial

Construction

• General: BrickBasement

Location

• Road/Access: Paved
• Originating MLS: MiRealSource
• School District: Lincoln Park Public Schools
• County: Wayne

Lot

• Zoning: FG40 LOT 40 ALSO ADJ VAC ALLEY 9 FT WIDE THEECKS PARK CENTER SUB PC 43 L44 P60 WCR

Utilities

• Water: Public

Financial

• Source: MiRealSource