Updated 3-Unit
For Sale
$439,900
528 E Broad St, Linden, MI 48451
Two residences have been updated, with additional work completed on key building systems.
Property Size3,395 SF
Price / SF$129.57
Days on Market15
Property Features for 528 E Broad St
General Information
Standard status
Active
Size
3,395 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1950
Listing Agency:
RE/MAX Select
Listed By:
Shane Adams · License #6501268702
(810) 233-3500
Source:
Metrodetroithomeguide
Added: Oct 14
Changed: Oct 26
Last Checked: Oct 28 at 8:38AM
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 Select
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Investment Insights
Based on property information with market context.
Built in 1950, this three-unit residential property has had two units fully updated. Improvements also include a new water heater and work involving the plumbing, electrical systems, and chimney. The property offers a three-unit configuration for rental use or owner occupancy with rental income from the other residences.
The property is on E Broad St in Linden, near restaurants and shops, and a short drive from Fenton.
The property is on E Broad St in Linden, near restaurants and shops, and a short drive from Fenton.
Key Highlights
- Three residential units
- Two of the three units have been fully updated
- New water heater; plumbing, electrical, and chimney work completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,161
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,220
$583.2K
Cap Rate 7%
$416,586
$416.6K
Cap Rate 9%
$324,011
$324.0K
Market Conditions
NOI Build-Up for 3,395 SF
Gross rent
$44.0K $12.96/SF
− Vacancy
−$2.3K −$0.69/SF
EGI
$41.7K $12.27/SF
− OpEx
−$12.5K −$3.68/SF
NOI
$29.2K $8.59/SF
Area
Genesee County, MI
Vacancy
5.32%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,220
Cap Rate 7%
$416,586
Cap Rate 9%
$324,011
Alternative Uses
Best Use
Multifamily LT 5
$416.6K
$364.5K – $486.0K
NOI $29,161 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$371.7K
$325.2K – $433.6K
NOI $26,017 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$714.4K
$625.1K – $833.5K
NOI $50,008 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
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Business Placement
Demographics for 48451, MI
16,033
Population
6,005
Households
2.7
Avg Household Size
44
Median Age
32%
College-Educated
95%
High-School Grad
34.1 sq mi
ZIP Area
470
Density / Sq Mi
$95,616
Median Household Income
$52,871
Median Earnings
$973
Median Rent
$268,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Two residences have been updated, with additional work completed on key building systems.
Where is this triplex located?
The property is located at 528 E Broad St Linden, MI.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Three residential units; Two of the three units have been fully updated; New water heater; plumbing, electrical, and chimney work completed
