Ranch-Style Triplex with Central
New
For Sale
$499,900
219 W 12 Mile Rd, Royal Oak, MI 48073
Fully leased three-unit triplex with ranch-style layouts, central air in two units, and in-unit washer and dryer.
Days on Market5
Property Features for 219 W 12 Mile Rd
General Information
Standard status
Active
Property subtype
Investment
Occupancy
100%
Additional Details
Gross Income
$46,800
Highway Access
Yes
Amenities
central air conditioning
in-unit washer and dryer
dishwasher
Building Details
Building Size
1,950 SF
Year Built
1957
Buildings
1
Tenancy
Multi
Listing Agency:
(313) 770-9997
Listed By:
Sonny Bertoni
(313) 770-9997
Source:
Elliman
Added: Jul 29
Changed: Jul 30
Last Checked: Aug 1 at 12:35PM
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 Sonny Bertoni
Investment Insights
Based on property information with market context.
This fully leased ranch-style triplex offers a three-unit, single-level setup and year-round comfort. Built in 1957, the property features central air conditioning in two of the units, along with in-unit washer and dryer, dishwashers, and newer furnaces. The third unit includes a functional layout with a dishwasher and a newer water heater.
Tenant leases provide near-term stability, with Unit A through April 2027, Unit B through October 2026, and Unit C through July 2027. BikeScore is 50 (bikeable) and WalkScore is 54 (somewhat walkable), supporting everyday errands and routine access.
Overall, the combination of ranch-style convenience and unit-level updates creates a practical investment and operating profile for an owner seeking current occupancy with defined lease timelines.
Tenant leases provide near-term stability, with Unit A through April 2027, Unit B through October 2026, and Unit C through July 2027. BikeScore is 50 (bikeable) and WalkScore is 54 (somewhat walkable), supporting everyday errands and routine access.
Overall, the combination of ranch-style convenience and unit-level updates creates a practical investment and operating profile for an owner seeking current occupancy with defined lease timelines.
Key Highlights
- Ranch‑style triplex built in 1957
- Fully leased with three units
- Two units with central air plus in‑unit washer and dryer
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 | $38.6k | $19.80 |
| − Vacancy | −$1.7k | −$0.89 |
| EGI | $36.9k | $18.91 |
| − OpEx | −$11.1k | −$5.67 |
| NOI | $25.8k | $13.24 |
1,950 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$368.7K
$322.6K – $430.2K
NOI $25,811 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$341.7K
$299.0K – $398.7K
NOI $23,919 @ 7.0% cap · market cap 4.78%
Theoretical Best
Specialty Retail
$420.6K
$368.0K – $490.7K
NOI $29,442 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Explore this area
Business Placement
Demographics for 48073, MI
33,658
Population
17,551
Households
1.9
Avg Household Size
39
Median Age
59%
College-Educated
97%
High-School Grad
7.4 sq mi
ZIP Area
4,548
Density / Sq Mi
$86,426
Median Household Income
$58,525
Median Earnings
$1,245
Median Rent
$302,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully leased three-unit triplex with ranch-style layouts, central air in two units, and in-unit washer and dryer.
Where is this triplex located?
The property is located at 219 W 12 Mile Rd Royal Oak, MI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Ranch‑style triplex built in 1957; Fully leased with three units; Two units with central air plus in‑unit washer and dryer
