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Three-Unit Income Property Opportunity

66 E Isabella Ave Muskegon, MI 49442

Claim this Listing
For Sale
$235,000

Rare income property featuring a house and a duplex.

Type:Investment
Property size:
1,296 SF
Price / SF:
$181/SF
Added:
Apr 24, 2026
Days on Market:
81
Last Refresh:
Jul 3 at 2:54 am

Property Features for 66 E Isabella Ave

General Information

Standard status
Active
Size
1,296 SF
Property subtype
Investment

Building Details

Year Built
1900

Listing office Grand Rapids Market Center East

Listing date Apr 24, 2026

Source Elliman

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 Grand Rapids Market Center East


Investment Insights

Based on property information with market context.

This property features a rare income opportunity with a standalone house and a duplex on a single tax parcel. The property includes two separate buildings: a 1,296-square-foot house with three bedrooms and two bathrooms, and a duplex. All units have separate heating systems, dedicated carports, and washer and dryer hookups. Ranges and refrigerators are included for all units. The house has a private deck or patio. One unit, the 3BR/2BA house, is currently occupied and generates $1,050 per month. Another unit, a 2BR/1BA unit, is occupied and generates $700 per month. The remaining 2BR/1BA unit is vacant and move-in ready. The property is located in a high-demand location with convenient access to US-31. Investors can lease the final unit for an estimated $950+ for $2,700/mo total gross income. The bike score is 66, indicating it is bikeable, and the walk score is 41, indicating it is car-dependent.

Key Highlights

  • Rare 3‑unit income property on a single tax parcel.
  • Move‑in ready vacant 2BR/1BA unit allows for immediate occupancy or rental income.
  • Existing rental income of $1,750/month from two occupied units.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up
Vacancy
income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
EGI (Effective Gross Income)
gross rent minus vacancy losses — the realistic income before paying operating costs.
OpEx (Operating Expenses)
recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
NOI (Net Operating Income)
income a property generates after operating costs but before financing and taxes.

Component $ $/SF
Gross rent $19.0k $14.64
− Vacancy −$1.0k −$0.78
EGI $18.0k $13.86
− OpEx −$5.4k −$4.16
NOI $12.6k $9.70
1,296 SF · lease $14.64/SF/yr · vacancy 5.32% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$179.6K
$157.2K – $209.6K (±1% cap)
NOI $12,575 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$160.3K
$140.3K – $187.1K (±1% cap)
NOI $11,224 @ 7.0% cap · market cap 4.78%
Theoretical Best
Hotel Hospitality
$12.17M
$10.65M – $14.20M (±1% cap)
NOI $851,955 @ 7.0% cap · market cap 362.53%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Dental Office Furniture & Home Goods (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Locksmith Parking Lot & Garage Grocery & Convenience Store Hair Salon Computer & Electronic Repair Restaurant

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

FAQs

What type of property is this?
Triplex - Rare income property featuring a house and a duplex.
Where is this triplex located?
The property is located at 66 E Isabella Ave Muskegon, MI.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Rare 3‑unit income property on a single tax parcel.; **Move‑in ready vacant 2BR/1BA unit allows for immediate occupancy or rental income.**; Existing rental income of $1,750/month from two occupied units.
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