5-Unit Apartment
104 Grand Avenue, Mount Clemens, MI 48043
For Sale
$219,900
Multifamily, 2 Story, Mt. Clemens, MI
Property Size1,969 SF
Lot Size0.17 Acres
Price / SF$111.68
Days on Market184
Property Features for 104 Grand Avenue
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Pets allowed
Subdivision
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Architectural style
Listing Agency:
EXP Realty Main
(888) 501-7085
Listed By:
Dylan Tanaka · License MI #6506046373
(248) 265-3777
Added: May 11
Changed: Nov 2
Last Checked: Nov 10 at 1:06PM
MLS# 20261033630
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.
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Investment Insights
Based on property information with market context.
This 5-unit apartment building in Mt. Clemens contains 1969 square feet on a 0.17-acre parcel. Constructed in 1900, the two-story Colonial property features vinyl exterior materials, forced-air heating, public water, five bedrooms, five bathrooms, and a basement. Separate utilities serve the units, and the building is fully occupied.
Located at 104 Grand Avenue in Mt. Clemens, the property is within Macomb County and carries Multi-Family zoning. Its existing five-unit configuration, established occupancy, and unit-level utility separation provide a defined multifamily layout for buyers evaluating an apartment building in the area.
Located at 104 Grand Avenue in Mt. Clemens, the property is within Macomb County and carries Multi-Family zoning. Its existing five-unit configuration, established occupancy, and unit-level utility separation provide a defined multifamily layout for buyers evaluating an apartment building in the area.
Key Highlights
- Five‑unit apartment building with full occupancy
- 1969 square feet on a 0.17‑acre parcel
- Multi‑Family zoning in Mt. Clemens
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
100%
Occupancy
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
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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 multifamily property with separate utilities, public water, and a two-story Colonial design.
Where is this apartment building located?
The property is located at 104 Grand Avenue 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: Five‑unit apartment building with full occupancy; 1969 square feet on a 0.17‑acre parcel; Multi‑Family zoning in Mt. Clemens
