Turnkey Four-Unit Investment
For Sale
$424,900
Pending
1505 Ford Blvd, Lincoln Park, MI 48146
Fully occupied four-unit complex with recent updates and below-market rents.
Property SizeContact for details
Days on Market107
Property Features for 1505 Ford Blvd
General Information
Standard status
Pending
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,764
Building Details
Year Built
1969
Units
4
Listing Agency:
Preferred, Realtors Ltd
(734) 787-6887
Listed By:
Benjamin Cockrum
(734) 787-6887
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 8 at 10:36AM
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 Preferred, Realtors Ltd
Investment Insights
Based on property information with market context.
This is a fully occupied, four-unit complex, suitable for investors. Each unit features two bedrooms and one bathroom. Several updates have been completed, including new furnaces, a paved driveway, new siding, gutters, downspouts, outside lighting, a new 6-foot fence in the back, and updated windows throughout. Unit 2 has an updated kitchen. The lease for Unit 1 expires in October 2024, while the lease for Unit 2 expires in July 2024. Units 3 and 4 are currently month to month. The tenant in Unit 4 has been in place since 2018, and the tenant in Unit 3 has been there since 2021. The owners have prepaid for fertilization for 2024 and are responsible for the water bill. Each unit has separate gas and electric hookups. Current rents are below market value, with the average rent for a two-bedroom unit in Lincoln Park being $1050 per month. Units 1 and 3 have the same layout, while Units 2 and 4 are similar but flip-flopped. The property is located in Lincoln Park, Michigan. The bike score is 49, indicating it is somewhat bikeable, and the walk score is 72, indicating it is very walkable.
Key Highlights
- Turnkey, fully occupied 4‑unit complex.
- Below market rents offer significant upside potential.
- Recent updates include furnaces, paved driveway, new siding, gutters, downspouts, outside lighting, new fence, and updated windows.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Explore this area
Business Placement
Demographics for 48146, MI
40,245
Population
15,874
Households
2.5
Avg Household Size
37
Median Age
11%
College-Educated
81%
High-School Grad
5.8 sq mi
ZIP Area
6,939
Density / Sq Mi
$57,183
Median Household Income
$36,886
Median Earnings
$972
Median Rent
$117,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied four-unit complex with recent updates and below-market rents.
Where is this quadplex located?
The property is located at 1505 Ford Blvd Lincoln Park, MI.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Turnkey, fully occupied 4‑unit complex.; Below market rents offer significant upside potential.; Recent updates include furnaces, paved driveway, new siding, gutters, downspouts, outside lighting, new fence, and updated windows.
