4-Unit Ranch
For Sale
$375,000
Pending
2172 Philomene Boulevard, Lincoln Park, MI 48146
Multifamily, 1 Story, Lincoln Park, MI
Property Size3,040 SF
Lot Size0.23 Acres
Days on Market55
Property Features for 2172 Philomene Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Multi-Family,Residential
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 6, Bedroom 7, Bedroom 8, Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 2
Pets allowed
Yes
Subdivision
Loire Lawn Sub
Elementary school district
Lincoln Park
Middle school district
Lincoln Park
High school district
Lincoln Park
Directions
S of Southfield & W of Dixie Hwy
Standard status
Pending
APN
45010040154000
Size
3,040 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
GJ154 TO 156 LOTS 154 TO 156 INCL LOIRE LAWN SUB PC 43 L44 P65 WCR
Tax Annual Amount
5924
Legal Description
GJ154 TO 156 LOTS 154 TO 156 INCL LOIRE LAWN SUB PC 43 L44 P65 WCR
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Water source
Public
Amenities
on-site laundry
parking
Building Details
Year built
1987
Floors in Building
1
Number of units
4
Building materials
Brick, Vinyl
Roof type
Asphalt
Architectural style
Ranch
Listing Agency:
KW Professionals · Keller Williams Realty
(734) 459-4700
Listed By:
Jeff Glover · License #6501317808
(734) 259-1100
Added: Aug 13
Changed: Sep 13
Last Checked: Oct 6 at 10:06PM
MLS# 20261064037
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1987, this 3,040-square-foot quadplex contains four residential units, each arranged with two bedrooms, a living room, dining area, and bathroom. The ranch-style building uses brick and vinyl construction, with forced-air heating, window-unit cooling, an asphalt roof, and public water service. On-site laundry and a large shared parking area support the property’s residential layout.
The property occupies 0.23 acres at 2172 Philomene Boulevard in Lincoln Park, Michigan. It is zoned Multi-Family,Residential and is located in Wayne County. All four units are leased to long-term tenants. Each apartment has its own utility meter, while water is included in the rent. Additional parking is available at the front of the building.
The property occupies 0.23 acres at 2172 Philomene Boulevard in Lincoln Park, Michigan. It is zoned Multi-Family,Residential and is located in Wayne County. All four units are leased to long-term tenants. Each apartment has its own utility meter, while water is included in the rent. Additional parking is available at the front of the building.
Key Highlights
- Four‑unit multifamily building with 3,040 square feet
- 100% leased with long‑term tenants in place
- Each unit includes 2 bedrooms, living room, dining area, and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,845
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,900
$596.9K
Cap Rate 7%
$426,357
$426.4K
Cap Rate 9%
$331,611
$331.6K
Market Conditions
NOI Build-Up for 3,040 SF
Gross rent
$45.6K $15.00/SF
− Vacancy
−$3.0K −$0.98/SF
EGI
$42.6K $14.03/SF
− OpEx
−$12.8K −$4.21/SF
NOI
$29.8K $9.82/SF
Area
Wayne County, MI
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,900
Cap Rate 7%
$426,357
Cap Rate 9%
$331,611
Alternative Uses
Best Use
Multifamily LT 5
$426.4K
$373.1K – $497.4K
NOI $29,845 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$391.5K
$342.6K – $456.8K
NOI $27,405 @ 7.0% cap · market cap 7.31%
Theoretical Best
Specialty Retail
$562.8K
$492.5K – $656.6K
NOI $39,398 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
558
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased multifamily property with on-site laundry, separate utility meters, and shared parking.
Where is this quadplex located?
The property is located at 2172 Philomene Boulevard Lincoln Park, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four‑unit multifamily building with 3,040 square feet; 100% leased with long‑term tenants in place; Each unit includes 2 bedrooms, living room, dining area, and bathroom
