Fully Occupied Triplex with
For Sale
$209,900
219 E Oliver Street, Corunna, MI 48817
Three occupied units support an established multifamily configuration near downtown amenities, schools, parks, and commuting routes.
Property Size2,048 SF
Price / SF$102.49
Days on Market121
Property Features for 219 E Oliver Street
General Information
Standard status
Active
Size
2,048 SF
Total Parking Spaces
2
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
3
Listing Agency:
Berkshire Hathaway HomeServices
(517) 351-3617
Listed By:
Kelly Bila · License #6501276169
(989) 721-1271
Source:
Exprealty
Added: Jun 19
Changed: Oct 8
Last Checked: Oct 16 at 11:01AM
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 Berkshire Hathaway HomeServices
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Investment Insights
Based on property information with market context.
This 2,048-square-foot triplex contains three occupied residential units, creating an income-producing multifamily configuration with no reported vacancy. A detached two-car garage provides additional on-site utility for residents and complements the property’s residential improvements.
Residents handle their own utilities, while ownership covers water, sewer, trash service, snow removal, and grounds maintenance. The property is in Corunna near downtown amenities, schools, parks, and major commuting routes, placing everyday services and transportation connections within the surrounding area.
Residents handle their own utilities, while ownership covers water, sewer, trash service, snow removal, and grounds maintenance. The property is in Corunna near downtown amenities, schools, parks, and major commuting routes, placing everyday services and transportation connections within the surrounding area.
Key Highlights
- Triplex with 3 currently occupied units
- 2,048 square feet of property size
- Detached 2‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,828
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,560
$336.6K
Cap Rate 7%
$240,400
$240.4K
Cap Rate 9%
$186,978
$187.0K
Market Conditions
NOI Build-Up for 2,048 SF
Gross rent
$25.8K $12.60/SF
− Vacancy
−$1.8K −$0.86/SF
EGI
$24.0K $11.74/SF
− OpEx
−$7.2K −$3.52/SF
NOI
$16.8K $8.22/SF
Area
Shiawassee County, MI
Vacancy
6.84%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,560
Cap Rate 7%
$240,400
Cap Rate 9%
$186,978
Alternative Uses
Best Use
Multifamily LT 5
$240.4K
$210.4K – $280.5K
NOI $16,828 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$215.0K
$188.2K – $250.9K
NOI $15,052 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$390.5K
$341.7K – $455.5K
NOI $27,332 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
Explore this area
Business Placement
Demographics for 48817, MI
5,714
Population
2,513
Households
2.3
Avg Household Size
45
Median Age
16%
College-Educated
96%
High-School Grad
58.9 sq mi
ZIP Area
97
Density / Sq Mi
$57,468
Median Household Income
$39,300
Median Earnings
$879
Median Rent
$164,200
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?
Triplex - Three occupied units support an established multifamily configuration near downtown amenities, schools, parks, and commuting routes.
Where is this triplex located?
The property is located at 219 E Oliver Street Corunna, MI.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Triplex with 3 currently occupied units; 2,048 square feet of property size; Detached 2‑car garage
