Four-Unit Multifamily with
6022 Appoline Street, Dearborn, MI 48126
Fully occupied 4-unit property in Dearborn with stable tenancy and meaningful updates, including HVAC and major plumbing.
Type:Retail, Multifamily
Property size:
3,024 SFPrice / SF:
$148/SF- Added:
- Jun 18, 2026
- Days on Market:
- 8
- Last Refresh:
- Jun 24 at 4:31 am
Property Features for 6022 Appoline Street
General Information
- Standard status
- Active
- Size
- 3,024 SF
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 1927
Listing office CENTURY 21 Curran & Oberski Dearborn Heights
Listing date Jun 18, 2026
Source Crexi
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 Dearborn Heights
HighLights
- Fully occupied 4‑unit multifamily built in 1927, with four 1‑bedroom/1‑bath units at approximately 800 SF each
- Current gross income of $3,515/month and a most recent lease signed at $915/month
- HVAC replacement work completed by Detroit Furnace in 2021
- Major plumbing upgrades by Frost & Kretsch completed from 2020–2021
- New front porch steps and masonry completed in 2022
- Zero move‑outs since 2023; three units are conventional month‑to‑month tenancies and one is a housing‑voucher tenancy
Overview
This 4-unit multifamily building offers four spacious 1-bedroom, 1-bath units. The units are approximately 800 square feet each and are currently fully occupied. Tenancy has been stable, with zero move-outs since 2023, and current tenants averaging about five years in place. Three of the four units are conventional month-to-month tenancies, providing flexibility for a future owner-occupant or investor. Unit 6028 #4 is a housing-voucher tenancy with approximately $595 of the $875 rent paid directly by the housing authority, with consistent payments dating back to 2019.
The property includes a record of capital improvements completed in recent years. HVAC replacement work was completed in 2021 by Detroit Furnace. Major plumbing upgrades were completed between 2020 and 2021 by Frost & Kretsch. New front porch steps and masonry were added in 2022, and exterior repairs were completed for the City of Dearborn certificate of occupancy in 2020. Appliances have also been replaced as units turned over.
From an operating standpoint, the current income stream is supported by stable occupancy and updated building systems. The mix of month-to-month arrangements and a long-standing voucher tenancy can be useful for buyers seeking both dependability and operational flexibility.
The property includes a record of capital improvements completed in recent years. HVAC replacement work was completed in 2021 by Detroit Furnace. Major plumbing upgrades were completed between 2020 and 2021 by Frost & Kretsch. New front porch steps and masonry were added in 2022, and exterior repairs were completed for the City of Dearborn certificate of occupancy in 2020. Appliances have also been replaced as units turned over.
From an operating standpoint, the current income stream is supported by stable occupancy and updated building systems. The mix of month-to-month arrangements and a long-standing voucher tenancy can be useful for buyers seeking both dependability and operational flexibility.
Local 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 | $45.4k | $15.00 |
| − Vacancy | −$2.9k | −$0.98 |
| EGI | $42.4k | $14.03 |
| − OpEx | −$12.7k | −$4.21 |
| NOI | $29.7k | $9.82 |
3,024 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$424.1K
$371.1K – $494.8K
NOI $29,688 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$387.8K
$339.3K – $452.4K
NOI $27,145 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$667.1K
$583.7K – $778.3K
NOI $46,697 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Dearborn
- County
- Wayne
- State
- Michigan
- Longitude
- -83.16741
- Latitude
- 42.333626
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Fully occupied 4-unit property in Dearborn with stable tenancy and meaningful updates, including HVAC and major plumbing.
Where is this quadplex located?
The property is located at 6022 Appoline Street Dearborn, MI.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Fully occupied 4‑unit multifamily built in 1927, with four 1‑bedroom/1‑bath units at approximately 800 SF each; Current gross income of $3,515/month and a most recent lease signed at $915/month; HVAC replacement work completed by Detroit Furnace in 2021
