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Ryan Maceri

mhgrealtors@gmail.com +1(586) 519-6259

$ 1,900,000

Est. payment | -/mo

12,746 SqFt

Save

$ 1,900,000

Est. payment | -/mo

Save

12,746 SqFt

Key Details

Property Type Commercial

Sub Type BusinessandRealEstate

Listing Status Active

Purchase Type For Sale

Square Footage 12,746 sqft

Price per Sqft $149

Subdivision Assr'S Plat No 109 - City Of Pontiac

MLS Listing ID 20261017986

Year Built 1940

Lot Size 1.150 Acres

Acres 1.15

Property Sub-Type BusinessandRealEstate

Listing Terms Cash, Conventional

Property Description

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.

Current mortgage may be assumable for qualified buyers at 7.0% or less interest rate. 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.

Location

State MI

County Oakland

Area Area02142Pontiac

County Oakland

Interior

Heating Forced Air, Natural Gas

Fireplace No

Exterior

View Y/N No

Roof Type Asphalt

Garage false

WaterfrontY/N No

Building

Foundation Basement, Block

Sewer Public Sewer

Water Public

New Construction No

New Construction Y/N No

Schools

School District Pontiac

Others

Senior Community false

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition ShortSaleNo, Standard

Listed by James T Silver of Keller Williams Somerset

NEARBY SCHOOL & BUSINESS

Ryan Maceri

Agent

+1(586) 519-6259 | mhgrealtors@gmail.com

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51 SPOKANE DR Pontiac, MI 48341

Ryan Maceri

Key Details

Location

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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51 SPOKANE DR