Updated Three-Unit Multifamily
For Sale
$325,000
11472 E Lippincott Boulevard, Davison, MI 48423
Separately metered residences offer distinct layouts, outdoor areas, and recent major-system improvements.
Property Size3,085 SF
Lot Size5.00 Acres
Price / SF$105.35
Days on Market48
Property Features for 11472 E Lippincott Boulevard
General Information
Standard status
Active
Size
3,085 SF
Lot size
5.00 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1945
Listing Agency:
EXP Realty - Fenton
Listed By:
Jason White
(269) 600-4397
Source:
Premiermichiganhomesearch
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 26 at 7:05PM
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 - Fenton
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Investment Insights
Based on property information with market context.
This three-unit multifamily property occupies 5 acres and includes three residences, each configured with 2 bedrooms and 1 full bath. The lower unit has a full basement, enclosed front porch, large deck, and 2-car garage. The upper residence has a separate entrance, while the rear unit uses a Cape Cod-style layout with a private patio. A laundry area serving the upper and rear units is located below the stairs and remains unfinished.
Recent improvements include new furnaces, central A/C units, water heaters, and roof. The main and rear units have new flooring, and the rear unit also received new drywall and insulation. All units are separately metered. The upper unit is leased through November, and the rear unit is leased through June 2027. The property is located in Davison, Michigan.
Recent improvements include new furnaces, central A/C units, water heaters, and roof. The main and rear units have new flooring, and the rear unit also received new drywall and insulation. All units are separately metered. The upper unit is leased through November, and the rear unit is leased through June 2027. The property is located in Davison, Michigan.
Key Highlights
- Three‑unit property on 5 acres
- Each unit includes 2 bedrooms and 1 full bath
- Lower unit features a full basement, enclosed front porch, large deck, and 2‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,498
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$529,960
$530.0K
Cap Rate 7%
$378,543
$378.5K
Cap Rate 9%
$294,422
$294.4K
Market Conditions
NOI Build-Up for 3,085 SF
Gross rent
$40.0K $12.96/SF
− Vacancy
−$2.1K −$0.69/SF
EGI
$37.9K $12.27/SF
− OpEx
−$11.4K −$3.68/SF
NOI
$26.5K $8.59/SF
Area
Genesee County, MI
Vacancy
5.32%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$529,960
Cap Rate 7%
$378,543
Cap Rate 9%
$294,422
Alternative Uses
Best Use
Multifamily LT 5
$378.5K
$331.2K – $441.6K
NOI $26,498 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$337.7K
$295.5K – $394.0K
NOI $23,642 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$649.2K
$568.0K – $757.4K
NOI $45,442 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
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Business Placement
Demographics for 48423, MI
33,801
Population
15,248
Households
2.2
Avg Household Size
41
Median Age
25%
College-Educated
93%
High-School Grad
64.5 sq mi
ZIP Area
524
Density / Sq Mi
$64,096
Median Household Income
$40,463
Median Earnings
$953
Median Rent
$209,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Separately metered residences offer distinct layouts, outdoor areas, and recent major-system improvements.
Where is this triplex located?
The property is located at 11472 E Lippincott Boulevard Davison, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Three‑unit property on 5 acres; Each unit includes 2 bedrooms and 1 full bath; Lower unit features a full basement, enclosed front porch, large deck, and 2‑car garage
