12-Unit Ranch Multifamily
4222 Drouillard Street Unit SourceFi Lincoln Park, MI 48146
4222 Drouillard Street Unit SourceFi, Lincoln Park, MI, 48146
$1,100,000
For Sale
$1,100,000
12-unit ranch complex of four adjacent buildings, each unit has private entrance and separate utilities.
Property Size7,133 SF
Price / SF$154.21
Days on Market26
Property Features for 4222 Drouillard Street Unit SourceFi
General Information
- Standard status
- Active
- Size
- 7,133 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 19
Listing agency
Century 21 Curran & Oberski
(313) 715-2020
Listed by
Bill Darwich · License #6501368264
(313) 715-2020
Source
Xome
Added: Jun 26 Updated: Jul 20 at 7:49PM Checked: Jul 21 at 3:02AM
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 Century 21 Curran & Oberski
Investment Insights
Based on property information with market context.
This 12-unit ranch-style multifamily complex is arranged as four individual buildings, each with three units. Residents have private entrances, and the property features separate utilities for all units. Some units have been updated, and the complex includes a newer roof and a newer parking lot. Owner-paid water supports the operating setup, and a common laundry area is located in one of the buildings. The property is currently 100% leased.
The four buildings are next to each other and include addresses: 4222 Drouillard Street, 4228 Drouillard Street, and 4234 Drouillard Street in Lincoln Park, along with 1404 Brest in Southgate. The property is described as a short walk to nearby restaurants and shops.
With all units separately metered and accessed via private entrances, the layout is designed for tenant privacy and straightforward day-to-day operations.
The four buildings are next to each other and include addresses: 4222 Drouillard Street, 4228 Drouillard Street, and 4234 Drouillard Street in Lincoln Park, along with 1404 Brest in Southgate. The property is described as a short walk to nearby restaurants and shops.
With all units separately metered and accessed via private entrances, the layout is designed for tenant privacy and straightforward day-to-day operations.
Key Highlights
- 12‑unit ranch‑style multifamily complex made up of four adjacent buildings (3 units per building)
- Each unit has a private entrance and separate utilities
- 100% leased and includes an on‑site common laundry room in one building
Local Financial Insights For Apartment 5plus
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 | $124.1k | $17.40 |
| − Vacancy | −$7.2k | −$1.01 |
| EGI | $116.9k | $16.39 |
| − OpEx | −$52.6k | −$7.38 |
| NOI | $64.3k | $9.01 |
7,133 SF · lease $17.40/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$918.6K
$803.8K – $1.07M
NOI $64,304 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,444 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - 12-unit ranch complex of four adjacent buildings, each unit has private entrance and separate utilities.
Where is this apartment building located?
The property is located at 4222 Drouillard Street Unit SourceFi Lincoln Park, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 12‑unit ranch‑style multifamily complex made up of four adjacent buildings (3 units per building); Each unit has a private entrance and separate utilities; 100% leased and includes an on‑site common laundry room in one building
