4-Unit
For Sale
$475,000
7187 Silver Lake Road, Linden, MI 48451
All four one-bedroom residences are occupied and include full kitchens and bathrooms.
Property Size2,940 SF
Price / SF$161.56
Days on Market17
Property Features for 7187 Silver Lake Road
General Information
Standard status
Active
Size
2,940 SF
Total Parking Spaces
10
Property subtype
Residential Income
Zoning
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,253
Amenities
common area washer/dryer
balcony
deck
Building Details
Building Size
2,940 SF
Stories
2
Units
4
Listing Agency:
RE/MAX Platinum-Fenton
(810) 629-5800
Listed By:
Jeffrey A Zielinski · License #6501412987
(810) 252-3269
Source:
Carterassociatesrealty
Added: Oct 12
Changed: Oct 25
Last Checked: Oct 26 at 3:41AM
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 Platinum-Fenton
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Investment Insights
Based on property information with market context.
This 2,940-square-foot quadplex contains four one-bedroom apartments, each with a full kitchen and bathroom. A basement common area provides shared laundry, while one apartment has its own washer and dryer. Outdoor common areas include a balcony and deck, and parking serves tenants and guests. The exterior and decking were recently painted.
The property covers more than two acres and is adjacent to a school. US 23, Fenton, restaurants, and shopping are nearby. The site is zoned Multi-Family.
The property covers more than two acres and is adjacent to a school. US 23, Fenton, restaurants, and shopping are nearby. The site is zoned Multi-Family.
Key Highlights
- Four one‑bedroom apartments; all are currently rented
- 2,940 square feet on more than 2 acres
- Multi‑Family zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,253
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,060
$505.1K
Cap Rate 7%
$360,757
$360.8K
Cap Rate 9%
$280,589
$280.6K
Market Conditions
NOI Build-Up for 2,940 SF
Gross rent
$38.1K $12.96/SF
− Vacancy
−$2.0K −$0.69/SF
EGI
$36.1K $12.27/SF
− OpEx
−$10.8K −$3.68/SF
NOI
$25.3K $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%
$505,060
Cap Rate 7%
$360,757
Cap Rate 9%
$280,589
Alternative Uses
Best Use
Multifamily LT 5
$360.8K
$315.7K – $420.9K
NOI $25,253 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$321.9K
$281.6K – $375.5K
NOI $22,530 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$618.7K
$541.3K – $721.8K
NOI $43,306 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
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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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?
Quadplex - All four one-bedroom residences are occupied and include full kitchens and bathrooms.
Where is this quadplex located?
The property is located at 7187 Silver Lake Road Linden, MI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Four one‑bedroom apartments; all are currently rented; 2,940 square feet on more than 2 acres; Multi‑Family zoning
