Address
51 Spokane Dr Pontiac, MI
Price
$ 1,590,000
Property Attributes
  • MLS#40171274
  • TypeCommercial
  • CountyOAKLAND
  • CityPontiac
  • AreaPontiac
  • NeighborhoodPontiac
  • Zip48341
  • StyleCommercial/Industrial
  • Year Built1940
  • Taxes$ 14073
  • Price$ 1,590,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage12746
  • Lot Size1.15 Acres
Listing Provided Courtesy Of:
Keller Williams Somerset
Data Source:
Michigan Multiple Listing Service
Property Description

Rare opportunity on this turn-key, profitable, cash flow property! Total of 18 two B/R units Avg about $850/mo., 15 have been fully renovated within last 2 years. Each unit has private entrance & basement with separate utility meters. 17 of the 18 units are occupied with tenants current on rent. 6 Units have C/A and 8 units have new furnaces. All have newly shingled porch overhangs, front exterior doors, glass block windows in courtyard, new gutters and trim and exterior security lighting. West side of building also has new asphalt parking lot. Current mortgage is assumable for qualified applicants at 4.75% interest rate. Please do NOT approach building or tenant without a confirmed showing appointment. There has been a lot of capital improvements put into this property for added value. Security camera system in place for added peace of mind. City Certified until Dec. 2022. $156,000 projected NOI with rent increases on the lower priced units and leasing the vacant unit.

Price History
5/7/2021 Listed $1,590,000

General Features

Class COM/IND/BUS OPP
Directions See Map
Financial Terms Cash, Conventional
Heating Forced Air
Listing Area Pontiac (63142)
Municipality Pontiac
Originating Mls RealComp
Ownership Private
Roof Asphalt
Source Mls MI Real Source
Status Active
Status Active
Subdivision ASSR'S PLAT NO 109 - CITY OF PONTIAC
Subj To Short Sale Apprvl No
Type Commercial/Industrial
Water Public Water
Water Heater Gas
Year Built 1940
Zoning Multi-Family

Interior Features

Fuel Type Natural Gas

Exterior Features

Exterior Brick
Foundation Type Basement
Frontage 236
Lot Dimensions 236x210
Lot Size Area 1.15
Sewer Septic Public Sanitary
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 48341

Price
AVG $570K
$1.59M
Taxes
AVG $6,112
$14,073
Visits
AVG 89
1
Year Built
AVG 1941
1940
Walkscore
AVG 45
49
Data Provided by Walkscore ® not using MLS data