# 1187 Park, Lincoln Park, MI 48146 > **TL;DR:** 5bd/3ba residential multi family, $260,000 ($139/sqft), built 1928, 1,868 sqft. Est. $1,391/mo. Listed 56 days. ## Property at a Glance | Attribute | Value | |-----------|-------| | Price | $260,000 | | Price/sqft | $139 | | Bedrooms | 5 | | Bathrooms | 3 full | | Square Feet | 1,868 | | Year Built | 1928 | | Stories | 3 | | Property Type | Residential Multi Family (Other) | | Status | Active | | Days on Market | 56 | ## Estimated Monthly Costs | Category | Amount | |----------|--------| | Principal & Interest (20% down, 30-year at 6.5%) | $1,315 | | Estimated Insurance | $76 | | **Total** | **$1,391** | ## Property Highlights - Built in 1928 - 3 stories ## Description ### Agent Description Turnkey, Fully Occupied Triplex | Extensively Renovated | $260,000 | 7.7% Current Cap Rate | 9.2% Potential Cap Rate 1187 Park Avenue offers investors the opportunity to acquire a fully occupied, low-maintenance triplex for $260,000, with established rental income, substantial recent capital improvements, and attractive potential for long-term returns. The property comprises two 2-bedroom, 1-bathroom apartments and one legal 1-bedroom, 1-bathroom basement apartment. The property currently generates $2,700 per month in rental income, equivalent to $32,400 annually, supporting an estimated $20,000 annual NOI and a 7.7% in-place cap rate. With potential NOI of approximately $24,000, the property offers a 9.2% potential cap rate, alongside a 12.5% gross rental yield at the asking price. The property has benefited from substantial recent capital investment, including: A brand-new furnace and newer water heater Approximately $5,000 invested in comprehensive gas line repairs Replacement of stoves and refrigerators across all three apartments A complete renovation of the 1-bedroom apartment Recent kitchen flooring improvements Premium flooring scheduled for installation in the two remaining apartments during the first five days of November Refurbishment of kitchen cabinetry with a new glossy finish in both apartments These improvements significantly enhance the property's condition, address major mechanical and appliance needs, and minimize anticipated near-term capital expenditure. The property is 100% occupied, with reliable tenants who have consistently paid rent early throughout the current ownership period. All tenants pay rent online, supporting efficient collections and streamlined property management. Tenants also maintain the yard, contributing to the property's low operating expense profile. With an attractive 7.7% in-place cap rate, potential to achieve a 9.2% cap rate, strong rental collections, and substantial recent capital improvements, 1187 Park Avenue offers investors a compelling combination of i ## Location - **Address:** 1187 Park, Lincoln Park, MI 48146 - **County:** Wayne - **Coordinates:** 42.248515, -83.176509 - **Google Maps:** https://www.google.com/maps?q=42.248515,-83.176509 ## Listing Agent - **Name:** Charlotte Tumminello - **Brokerage:** REMAX LEADING EDGE - **Broker Phone:** (313) 277-7777 - **Listing URL:** [View original listing](https://www.realtor.com/realestateandhomes-detail/1187-Park-Ave_Lincoln-Park_MI_48146_M46924-06706?f=listhub&s=REALCOMPMI&m=20261071896&c=propsimple) ## Photos ![1187 Park - Photo 1](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f3834521870r.jpg) ![1187 Park - Photo 2](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f1020065325r.jpg) ![1187 Park - Photo 3](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f3986818589r.jpg) ![1187 Park - Photo 4](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f1577476899r.jpg) ![1187 Park - Photo 5](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f1071398957r.jpg) ![1187 Park - Photo 6](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f3326743712r.jpg) ![1187 Park - Photo 7](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f2190844541r.jpg) ![1187 Park - Photo 8](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f795784321r.jpg) ![1187 Park - Photo 9](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f1495251130r.jpg) ![1187 Park - Photo 10](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f4062137022r.jpg) ![1187 Park - Photo 11](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f2487524681r.jpg) ![1187 Park - Photo 12](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f1964247334r.jpg) ![1187 Park - Photo 13](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f333665143r.jpg) ![1187 Park - Photo 14](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f4036890119r.jpg) ![1187 Park - Photo 15](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f3649626906r.jpg) ![1187 Park - Photo 16](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f706386545r.jpg) ![1187 Park - Photo 17](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f3736359637r.jpg) ![1187 Park - Photo 18](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f2090777320r.jpg) ![1187 Park - Photo 19](http://lh.rdcpix.com/51acd3261f213e8e69f7122dca0d4c04l-f1002056684r.jpg) --- **MLS#:** 20261071896 | **Updated:** 2026-10-28 **Source:** listhub *Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.* [View on PropertySimple](https://www.propertysimple.ai/listing/1187-park-lincoln-park-mi-48146-1617248bc6674a228c6b10831e46e7ee) --- ## Structured Data ```json { "@context": "https://schema.org", "@type": "RealEstateListing", "@id": "https://www.propertysimple.ai/listing/1187-park-lincoln-park-mi-48146-1617248bc6674a228c6b10831e46e7ee#listing", "url": "https://www.propertysimple.ai/listing/1187-park-lincoln-park-mi-48146-1617248bc6674a228c6b10831e46e7ee", "name": "1187 Park, Lincoln Park, MI 48146", "description": "Turnkey, Fully Occupied Triplex | Extensively Renovated | $260,000 | 7.7% Current Cap Rate | 9.2% Potential Cap Rate 1187 Park Avenue offers investors the opportunity to acquire a fully occupied, low-maintenance triplex for $260,000, with established rental income, substantial recent capital improvements, and attractive potential for long-term returns. The property comprises two 2-bedroom, 1-bathroom apartments and one legal 1-bedroom, 1-bathroom basement apartment. The property currently generates $2,700 per month in rental income, equivalent to $32,400 annually, supporting an estimated $20,000 annual NOI and a 7.7% in-place cap rate. With potential NOI of approximately $24,000, the property offers a 9.2% potential cap rate, alongside a 12.5% gross rental yield at the asking price. The property has benefited from substantial recent capital investment, including: A brand-new furnace and newer water heater Approximately $5,000 invested in comprehensive gas line repairs Replacement of stoves and refrigerators across all three apartments A complete renovation of the 1-bedroom apartment Recent kitchen flooring improvements Premium flooring scheduled for installation in the two remaining apartments during the first five days of November Refurbishment of kitchen cabinetry with a new glossy finish in both apartments These improvements significantly enhance the property's condition, address major mechanical and appliance needs, and minimize anticipated near-term capital expenditure. The property is 100% occupied, with reliable tenants who have consistently paid rent early throughout the current ownership period. All tenants pay rent online, supporting efficient collections and streamlined property management. Tenants also maintain the yard, contributing to the property's low operating expense profile. 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