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    47 Pope St Lapeer, MI 48446

    For Sale
    $439,000

    Six-unit property near downtown Lapeer with strong income potential.

    Lot size:
    0.17 Acres

    Property Features for 47 Pope St

    General Information

    Lot size
    0.17 Acres

    Building Details

    Year built
    1860

    Source: Real Estate One Agent Kimberly A Bow

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lapeer Multi-Family Investment Opportunity

    This six-unit multi-family investment property is located near downtown Lapeer. Each unit features one bedroom and one bathroom. The property has separate gas and electric meters for each unit, and individual furnaces. Tenants are responsible for their own utilities. The current rent roll is $4,300 per month, with a full occupancy potential of $5,150 per month, or $61,800 annually. Owner expenses include water and trash. With only one unit currently vacant and consistent rental income, this property represents a solid investment opportunity and an excellent addition to any real estate portfolio.
    Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lapeer
    County
    Lapeer
    State
    Michigan
    Longitude
    -83.306406
    Latitude
    43.051846

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    FAQs

    What type of property is this?
    Apartment building - Six-unit property near downtown Lapeer with strong income potential.
    Where is this apartment building located?
    The property is located at 47 Pope St Lapeer, MI.
    What is the asking price?
    The asking price for this property is $439,000.
    What are key features of this property?
    This property features: - High income potential: current rent roll of $4,300/month with a full occupancy potential of $5,150/month ($61,800 annually).; - Separate utilities: each unit has separate gas and electric meters, and individual furnaces, with tenants paying their own utilities.; - Multi-family investment: 6-unit multi-family property.
    (248) 625-0200
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    47 Pope St Lapeer, MI 48446
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