Three-Unit Triplex with
For Sale
$649,000
Pending
764 Harcourt Rd, Grosse Pointe Park, MI 48230
Well-maintained 3-unit property with individual climate control, in-unit laundry, and multiple covered parking options.
Property Size4,950 SF
Days on Market114
Property Features for 764 Harcourt Rd
General Information
Standard status
Pending
Size
4,950 SF
Property subtype
Multi-Family
Building Details
Year Built
1928
Listing Agency:
Jim Saros Real Estate Services
Listed By:
James B Saros · License #6501398798
(313) 886-9030
Source:
Metrodetroithomeguide
Added: Jun 15
Changed: Oct 1
Last Checked: Oct 5 at 7:04PM
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 Jim Saros Real Estate Services
Investment Insights
Based on property information with market context.
This three-unit triplex includes a first-floor 3-bedroom apartment and two additional units, each with its own central air conditioning and heating. The residences feature in-unit laundry, gas fireplaces, and two full bathrooms, along with updated kitchens and updated bathrooms. The first-floor unit also offers a 3-season room, along with outdoor space. Building improvements cited include a newer roof, updated windows, and updated HVAC and plumbing, supported by detailed interior finish work such as plaster and crown moldings.
The property is located at 764 Harcourt Rd in Grosse Pointe Park, MI. Additional site amenities include a three-car garage with power, a carport, and a large driveway intended to support extra parking. The listing also notes that the sale includes a half lot on the south end of the property, which contributes to additional privacy and provides room to enjoy landscaping from the 3-season room.
For owner-occupants or investors, the unit-by-unit utilities and laundry setup can simplify day-to-day management. Multiple parking options and the additional half lot may also be useful for tenants seeking convenience and outdoor space. The home’s mix of updates and building systems coverage may support a straightforward ownership experience based on the improvements described.
The property is located at 764 Harcourt Rd in Grosse Pointe Park, MI. Additional site amenities include a three-car garage with power, a carport, and a large driveway intended to support extra parking. The listing also notes that the sale includes a half lot on the south end of the property, which contributes to additional privacy and provides room to enjoy landscaping from the 3-season room.
For owner-occupants or investors, the unit-by-unit utilities and laundry setup can simplify day-to-day management. Multiple parking options and the additional half lot may also be useful for tenants seeking convenience and outdoor space. The home’s mix of updates and building systems coverage may support a straightforward ownership experience based on the improvements described.
Key Highlights
- 1928‑built 3‑unit property with each unit featuring its own central AC and heating.
- First‑floor 3BR includes a 3‑season room plus gas fireplace and in‑unit laundry.
- Each unit offers 2 full bathrooms and updated kitchens and bathrooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,597
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,940
$971.9K
Cap Rate 7%
$694,243
$694.2K
Cap Rate 9%
$539,967
$540.0K
Market Conditions
NOI Build-Up for 4,950 SF
Gross rent
$74.3K $15.00/SF
− Vacancy
−$4.8K −$0.98/SF
EGI
$69.4K $14.03/SF
− OpEx
−$20.8K −$4.21/SF
NOI
$48.6K $9.82/SF
Area
Wayne County, MI
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,940
Cap Rate 7%
$694,243
Cap Rate 9%
$539,967
Alternative Uses
Best Use
Multifamily LT 5
$694.2K
$607.5K – $810.0K
NOI $48,597 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$637.5K
$557.8K – $743.7K
NOI $44,624 @ 7.0% cap · market cap 6.88%
Theoretical Best
Specialty Retail
$916.5K
$801.9K – $1.07M
NOI $64,152 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
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Business Placement
Demographics for 48230, MI
17,559
Population
7,369
Households
2.4
Avg Household Size
42
Median Age
73%
College-Educated
99%
High-School Grad
3.3 sq mi
ZIP Area
5,321
Density / Sq Mi
$131,155
Median Household Income
$65,716
Median Earnings
$1,451
Median Rent
$448,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained 3-unit property with individual climate control, in-unit laundry, and multiple covered parking options.
Where is this triplex located?
The property is located at 764 Harcourt Rd Grosse Pointe Park, MI.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 1928‑built 3‑unit property with each unit featuring its own central AC and heating.; First‑floor 3BR includes a 3‑season room plus gas fireplace and in‑unit laundry.; Each unit offers 2 full bathrooms and updated kitchens and bathrooms.
