Pending

$424,900

1505 Frd, Lincoln Park, MI 48146

8beds

4baths

--sqft

$2,858/mo

Get pre-qualified

2 to 4 Units

Built in 1969

-- sqft lot

$-- Zestimate^®

$--/sqft

$-- HOA

What's special

Calling all investors! Turnkey, fully occupied 4-unit complex. Each unit is 2 BD, 1 BA. Updates include furnaces, paved driveway, new siding, gutters, downspouts, outside lighting, new 6ft fence in back & updated windows throughout. Unit 2 has updated kitchen w/tenant whose lease expires 7/24. Unit 1 lease expires 10/24. Units 3 & 4 are month to month. Unit 4 tenant has been there since 2018. Unit 3 tenant has been there since 2021. Owners prepaid 2024 fertilization & pay the water bill. Each unit has separate gas & electric hook up. Current rents are below market value. Avg rent for a 2 bedroom in Lincoln Park is $1050/mo. No showings until offer is accepted. Photos are Unit 3. Unit 1 & 3 are the same; 2 & 4 are the same, flipflopped. DO NOT DISTURB THE TENANTS. Call Ben with questions.

995 days
7
0

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 8
Bathrooms: 4

Heating

Forced Air

Cooling

Wall Unit(s)

Appliances

Laundry: In Unit, Laundry Room, Main Level

Features

Basement: Slab

Property

Parking

Total spaces: 9
Parking features: Paved

Lot

Size: 0.3 Acres
Dimensions: 49 x 129

Details

Parcel number: 45021010046002

Construction

Type & style

Home type: MultiFamily
Property subtype: 2 to 4 Units

Materials

Brick
Roof: Other

Condition

New construction: No
Year built: 1969

Utilities & green energy

Sewer: Public Sewer
Utilities for property: Natural Gas Available, Cable Available, Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected

Community & HOA

Location

Region: Lincoln Park

Financial & listing details

Tax assessed value: $80,067
Annual tax amount: $5,764
Date on market: 2/22/2024
Listing terms: Cash,Conventional
Tenant pays: Electricity, Gas
Electric utility on property: Yes
Road surface type: Paved

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
5/21/2024	Pending sale	$424,900
Source: MichRIC #24008731 Report a problem
5/15/2024	Listed for sale	$424,900
Source: Realcomp II #81024008731 Report a problem
3/4/2024	Contingent	$424,900
Source: MichRIC #24008731 Report a problem
2/22/2024	Listed for sale	$424,900+70%
Source: MichRIC #24008731 Report a problem
10/5/2018	Listing removed	$249,900
Source: Real Estate One #217097332 Report a problem
6/10/2018	Listed for sale	$249,900
Source: Real Estate One #217097332 Report a problem
5/24/2018	Pending sale	$249,900
Source: Real Estate One #217097332 Report a problem
10/31/2017	Listed for sale	$249,900+34.4%
Source: Real Estate One #217097332 Report a problem
4/8/2010	Sold	$186,000
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2026	--	$148,500 +8%
2025	--	$137,500 +17%
2024	--	$117,500 +9.6%
2023	--	$107,200 +25.5%
2022	--	$85,400 +17.3%
2021	--	$72,800
2020	$5,297	$72,800 -3.7%
2019	--	$75,600 +7.7%
2018	--	$70,200 -26.9%
2017	--	$96,000 +1.4%
2016	$6,891	$94,700 -3.5%
2015	$6,891 -31.6%	$98,100 -5.5%
2013	$10,070 +46.1%	$103,800 +4.4%
2012	$6,891	$99,400 -5.2%
2010	--	$104,900 -2.9%
2009	--	$108,000 -1.6%
2008	--	$109,800 -40.6%
2007	--	$184,900 +5.7%
2005	$5,974	$174,900 +3%
2003	--	$169,800 +68.3%
2001	$7,185 +7.6%	$100,904 +3.2%
2000	$6,678	$97,776