4-Unit All-Brick
For Sale
$495,000
1870 Prairie Pkwy SW, Wyoming, MI 49519
Four residential units are consolidated within a single all-brick building.
Property Size3,876 SF
Price / SF$127.71
Days on Market142
Property Features for 1870 Prairie Pkwy SW
General Information
Standard status
Active
Size
3,876 SF
Property subtype
Multi-Family
Additional Details
Gross Rent Multiplier
8.17
Multifamily Units
4
Building Details
Year Built
1967
Construction
all brick
Listing Agency:
RE/MAX SunQuest Realty
Listed By:
Michael P Yablonsky · License #6501264567
(616) 299-0036
Source:
Metrodetroithomeguide
Added: May 29
Changed: Oct 16
Last Checked: Oct 16 at 8:59AM
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 RE/MAX SunQuest Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-unit residential property features all-brick construction and is offered as a single quadplex asset. The layout brings four dwelling units together within one building.
The property is located at 1870 Prairie Parkway SW in Wyoming, Michigan 49519. Its reported Gross Rent Multiplier is 8.17.
The property is located at 1870 Prairie Parkway SW in Wyoming, Michigan 49519. Its reported Gross Rent Multiplier is 8.17.
Key Highlights
- Four‑unit residential quadplex
- All‑brick building construction
- Gross Rent Multiplier of 8.17
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,232
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$844,640
$844.6K
Cap Rate 7%
$603,314
$603.3K
Cap Rate 9%
$469,244
$469.2K
Market Conditions
NOI Build-Up for 3,876 SF
Gross rent
$63.7K $16.44/SF
− Vacancy
−$3.4K −$0.87/SF
EGI
$60.3K $15.57/SF
− OpEx
−$18.1K −$4.67/SF
NOI
$42.2K $10.90/SF
Area
Kent County, MI
Vacancy
5.32%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$844,640
Cap Rate 7%
$603,314
Cap Rate 9%
$469,244
Alternative Uses
Best Use
Multifamily LT 5
$603.3K
$527.9K – $703.9K
NOI $42,232 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$524.4K
$458.8K – $611.8K
NOI $36,707 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$693.2K
$606.6K – $808.8K
NOI $48,527 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Explore this area
Business Placement
Demographics for 49519, MI
28,025
Population
11,693
Households
2.4
Avg Household Size
34
Median Age
28%
College-Educated
90%
High-School Grad
8.0 sq mi
ZIP Area
3,503
Density / Sq Mi
$75,373
Median Household Income
$39,240
Median Earnings
$1,176
Median Rent
$220,300
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?
Quadplex - Four residential units are consolidated within a single all-brick building.
Where is this quadplex located?
The property is located at 1870 Prairie Pkwy SW Wyoming, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Four‑unit residential quadplex; All‑brick building construction; Gross Rent Multiplier of 8.17
