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$ 550,000
Est. payment | /mo
3 Baths
7,840 Sqft Lot
$ 550,000
Est. payment | /mo
3 Baths
7,840 Sqft Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Royal Oak City
Subdivision Royal Oak City
MLS Listing ID 20261082137
HOA Y/N true
Year Built 1904
Annual Tax Amount $12,218
Lot Size 7,840 Sqft
Acres 0.18
Lot Dimensions 71 x 108
Source Realcomp
Property Description
Exceptional investment opportunity in the heart of Royal Oak featuring a beautifully renovated triplex on an oversized professionally landscaped lot in downtown Royal Oak w/ a vibrant downtown dining, shopping, entertainment, & nightlife. This versatile property offers strong rental income potential w/ Unit 1 occupying the entire first floor featuring 2 bedrooms, 1 full bath, hardwood floors, & a charming sunroom currently renting for $1,800/month. Unit 2 offers 1 bedroom, 1 bath, a sunroom, hardwood flooring and rents for $1,400/month. Unit 3 includes 1 bedroom, 1 bath, a private back deck, updated finishes throughout, & rents for $1,350/month. All units feature updated bathrooms, mainly hardwood flooring, granite countertops, & stainless-steel appliances w/ dishwashers. The basement provides abundant storage space along with shared community washer & dryer for all three units. Tenants enjoy both a private parking lot & additional street parking. This property is close to popular restaurants, boutiques, coffee shops, entertainment venues, parks, hospital & nearby Oakland Community College with easy access to major expressways & surrounding communities including Birmingham & Ferndale. Whether you are looking to expand your investment portfolio, owner occupy, redevelop, convert to additional units, or take advantage of the separate vacant land listing for future building potential, this is a rare opportunity in one of Metro Detroit's most desirable locations. Also listed as vacant land. This was a perfect time to sell after turning over the leases. Still time to live in lower level 2 bedroom or you can find a new tenant. Rents have not been increased in a few years and now is the time to invest in walkable downtown Royal Oak. Perfect location for an investor looking to add to their portfolio or any owner occupancy. Investment Potential: This property presents a fantastic opportunity for both seasoned investors & first-time buyers looking to enter the rental market.
Location
State MI
County Oakland
Zoning Multi-Family,Residential
Direction BETWEEN WOODWARD AND MAIN
Interior
Heating Forced Air
Cooling Window Unit(s)
Exterior
Amenities Available Pets Allowed
View Y/N No
Building
Water Public
Structure Type Other
Schools
School District Royal Oak
Others
Tax ID 2521407019
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://streamable.com/zgqncz
Listed by Max Broock, REALTORS®-Birmingham
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