Mount Clemens Multifamily Investment
For Sale
$219,900
104 Grand Ave, Mount Clemens, MI 48043
Fully occupied 5-unit building in Mount Clemens with long-term tenants.
Property Size1,969 SF
Days on Market160
Property Features for 104 Grand Ave
General Information
Standard status
Active
Size
1,969 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,166
Building Details
Building Size
1,969 SF
Year Built
1900
Units
5
Listing Agency:
eXp Realty
Listed By:
Dylan Tanaka · License #6506046373
(248) 265-3777
Source:
Elliman
Added: May 12
Changed: Oct 17
Last Checked: Oct 16 at 10:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a fully occupied 5-unit multifamily property located in Mount Clemens. The well-maintained income property features long-term tenants and separate utilities. It is suitable for investors seeking to expand their rental portfolio, generate steady cash flow, or explore a BRRR-style strategy. The building offers a clean starting point with full occupancy and an established tenant history. It is perfect for new or experienced real estate investors and 1031 exchange buyers looking to add a stabilized multifamily property to their portfolio. The property has a walk score of 44, indicating that it is car-dependent, and a bike score of 47, indicating that it is somewhat bikeable.
Key Highlights
- Fully occupied 5‑unit multifamily property
- Separate utilities for each unit
- Stabilized income property with long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,491
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,820
$369.8K
Cap Rate 7%
$264,157
$264.2K
Cap Rate 9%
$205,456
$205.5K
Market Conditions
NOI Build-Up for 1,969 SF
Gross rent
$36.2K $18.36/SF
− Vacancy
−$2.5K −$1.29/SF
EGI
$33.6K $17.07/SF
− OpEx
−$15.1K −$7.68/SF
NOI
$18.5K $9.39/SF
Area
Macomb County, MI
Vacancy
7.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,820
Cap Rate 7%
$264,157
Cap Rate 9%
$205,456
Alternative Uses
Best Use
Apartment 5plus
$264.2K
$231.1K – $308.2K
NOI $18,491 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$368.6K
$322.6K – $430.1K
NOI $25,804 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,241
Businesses Nearby
Explore this area
Business Placement
Demographics for 48043, MI
15,665
Population
7,059
Households
2.2
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
4.1 sq mi
ZIP Area
3,821
Density / Sq Mi
$57,315
Median Household Income
$37,683
Median Earnings
$896
Median Rent
$169,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied 5-unit building in Mount Clemens with long-term tenants.
Where is this apartment building located?
The property is located at 104 Grand Ave Mount Clemens, MI.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Fully occupied 5‑unit multifamily property; Separate utilities for each unit; Stabilized income property with long‑term tenants
