Lakefront Multifamily
5826 ANDERSONVILLE Road Waterford, MI 48329
5826 ANDERSONVILLE Road, Waterford, MI, 48329
$350,000
For Sale
$350,000
MULTI_FAMILY - Colonial - Waterford Twp, MI
Property Size2,252 SF
Lot Size0.16 Acres
Price / SF$155.42
Days on Market607
Property Features for 5826 ANDERSONVILLE Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Multi-Family,Office,Resid
- Bedrooms
- 3
- Bathrooms
- 4
- Rooms
- Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3
- Parking
- 3
- Pets allowed
- Cats OK, Dogs OK
- Standard status
- Active
- APN
- 1304104013
- Size
- 2,252 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Description
- T3N, R9E, SEC 4 SOUTHWESTERN ADD NELY 17 FT OF LOT 16 & SWLY 22.5 FT OF LOT 17
- Tax Annual Amount
- 7245
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1928
- Floors in Building
- 2
- Number of units
- 3
- Building materials
- Brick, Wood
- Roof type
- Asphalt
- Architectural style
- Colonial
Listing Agency
Coldwell Banker Metro Real Estate
(248) 242-7282
1362 W Huron St, Commerce, MI
Listed by
Lance Shamoo · License #6501409601
(248) 242-7282
Added: Nov 18, 2024 Checked: Jul 18 at 10:06 am
MLS# 20240086808
Listing URL
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This recently updated multifamily residence built in 1917 offers 5 bedrooms and 3 full bathrooms, along with 2 fireplaces. The property is described as having 3 official licensed rental status units, plus a business office with a small art gallery. Additional improvements include a 200-square-foot furnished cottage with a natural fireplace.
Set on private all-sports Van Norman Lake, the home includes a 32-foot custom built Mississippi river paddle boat and a custom dock. The site is located at 5826 ANDERSONVILLE Road, Waterford Twp, MI 48329 in a zoning designation of Multi-Family, Office, Resid.
With its licensed rental configuration and on-site lake amenities, the property presents a turnkey setup for buyers seeking a residential income and office-capable use within the existing multi-family zoning framework.
Set on private all-sports Van Norman Lake, the home includes a 32-foot custom built Mississippi river paddle boat and a custom dock. The site is located at 5826 ANDERSONVILLE Road, Waterford Twp, MI 48329 in a zoning designation of Multi-Family, Office, Resid.
With its licensed rental configuration and on-site lake amenities, the property presents a turnkey setup for buyers seeking a residential income and office-capable use within the existing multi-family zoning framework.
Key Highlights
- Multi‑family home with 5 bedrooms and 3 full baths, plus 2 fireplaces and a business office with a small art gallery
- Approx. 2,500 sq ft colonial home with brick and wood construction and forced‑air heating
- Asphalt roof; year built listed as 1928
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.6k | $19.80 |
| − Vacancy | −$2.0k | −$0.89 |
| EGI | $42.6k | $18.91 |
| − OpEx | −$12.8k | −$5.67 |
| NOI | $29.8k | $13.24 |
2,252 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$425.8K
$372.6K – $496.8K
NOI $29,808 @ 7.0% cap · market cap 8.52%
Second Best
Apartment 5plus
$394.6K
$345.3K – $460.4K
NOI $27,624 @ 7.0% cap · market cap 7.89%
Theoretical Best
Specialty Retail
$485.7K
$425.0K – $566.7K
NOI $34,002 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Recently updated 1917 multifamily property on private all-sports Van Norman Lake with licensed rentals, office, and cottage.
Where is this triplex located?
The property is located at 5826 ANDERSONVILLE Road Waterford, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Multi‑family home with 5 bedrooms and 3 full baths, plus 2 fireplaces and a business office with a small art gallery; Approx. 2,500 sq ft colonial home with brick and wood construction and forced‑air heating; Asphalt roof; year built listed as 1928
