NEW! Buy and sell safely with virtual options - Learn More
About the Listing 105081 - RC302927
Rare opportunity on this turn-key, profitable, cash-flowing property! Total of 18 two-bedroom units averaging approximately $1,130/month and roughly 800 sq. ft. each. 17 of the 18 units are currently occupied with tenants current on rent. Property features individual natural gas furnaces for each apartment along with separate utility setups, including individual water meters - ideal for efficient management and expense control. Each unit offers a private entrance and basement. Extensive updates throughout: 9 units have been fully renovated within the last 4 years, and 16 bathrooms have been completely updated. A new roof was installed across the entire complex in 2024 with a 20-year transferable warranty. Additional improvements include new concrete walkways in the courtyard, cultured stone on 9 porches, newly shingled porch overhangs, updated front exterior doors, glass block windows in every unit, newer gutters, trim, and exterior security lighting. The west side of the building also features a newer asphalt parking lot. 12 units include central air, and 10 units have newer furnaces. Security camera system in place for added peace of mind. One master key provides access to the building for convenience. Please do NOT approach property or tenants without a confirmed showing appointment. Strong upside potential with projected NOI of $259,200 through rent increases on under-market units and leasing the remaining vacancy.
Listing Highlights
Status
Active
Days on Site
30
Property Type
Multi-Family
MLS ®
60980911
Year Built
1940
Total Square Footage
12,746
Lot/Acreage
1.15
County
Oakland
Neighborhood
Assr's Plat No 109 - City Of Pontiac
Area
Pontiac (63142)
School District
Pontiac City School District
Interior Details
- Bedrooms: 0
- Bathrooms: 18 Full
- Appliances:
- Air Cond:
- Heating: Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 12746
- Below Ground Sq Ft: n/a
- Basement: Block
- Other:
- Water: Public Water
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 236x210
- Zoning: Multi-Family
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $16,813
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
51 Spokane Pontiac, MI 48341
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
