140 Summit Street

Pontiac, Michigan 48342

  • 4 Bed(s)
  • 4 Bath(s)
  • 2,279 Sqft
  • 0.12
    Acre(Lot)
$250,000

Description

Great investment opportunity! this 4-unit brick apartment building comes with two additional vacant lots, offering potential for expansion or added value. three units currently leased and producing $2,985 in monthly rental income as-is. owner covers all utilities, with 1 water heater and 2 furnaces servicing the property. apartment 4 has been freshly painted and is ready for a new tenant.

some deferred maintenance: oven in unit 1 and dishwasher need repair. owner owns fridge, stove and dish. the property has a strong rental history with a consistent rent roll, and the vacant unit may have a tenant soon. unit 4 could have an agency placed (like section 8) tenant if the buyer would like.

fha/va financing may be considered; however, some properties may require fha/va repairs that the seller may not be able to complete. an optimal fha/va offer would likely include the buyer covering up to a certain amount of repairs, with any remaining repairs to be addressed separately.

possible package deal available—seller may consider package discounts for a total of four buildings: 531 bryant st, kalamazoo, mi 49001, 130 s 8th st, lansing, mi 48912, 1380 college ave, lincoln park, mi 48146.

don't miss this chance to own a multi-unit property with extra land for future opportunities!

  • Property Type

    Multifamily

  • Subdivision

    Drexel Heights Add

  • County

    Oakland

  • Style

    Quadruplex

  • AD ID

    48937150

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Property Details

  • Bathroom Information

    • Total Baths: 4
    • Full Baths: 4

    Interior Features

    • Laundry Facility
    • Roof : Asphalt
    • Basement Description: Unfinished

    Heating & Cooling

    • Heating: Forced Air
    • Heating Fuel: Natural Gas

    Water Heater

    • Natural Gas

  • Building Information

    • Year Built: 1930
    • Building Stories: 2 Story
    • Total Units: 4
    • Roof: Asphalt
    • Foundation/Basement: Basement
    • Architecture: Quadruplex

    Exterior Features

    • Lighting
    • Construction: Aluminum,Brick

    Utility Features

    • Sewer: Public Sewer (Sewer-Sanitary)

    Water

    • Public (Municipal)
    • Water Heat: Natural Gas

  • Lot Information

    • Lot Size: 0.12
    • Dimensions: 40X100X40X100

    Property Information

    • SQ ft: 2279
    • Subdivision: DREXEL HEIGHTS ADD
    • Financing: Cash,Conventional,FHA,VA

  • Listing Price Information

    • Original List Price: $250,000

    Listing Information

    • Possession: Subject To Tenant Rights
    • Legal Description: T3N, R10E, SEC 20 DREXEL HEIGHTS ADDITION LOT 124

  • Tax Information

    • Annual Tax: $2,957
    • Parcel Number: 1420311005

    Possession

    • Subject To Tenant Rights

    Legal Information

    • Legal Description: Section: T3N, R10E, SEC 20 DREXEL HEIGHTS ADDITION LOT 124

  • Multi-Unit Information

    • Road Frontage: Paved

    Unit 1 Information

    • # of Bedrooms: 4

  • Utility Information

    • Water:Public (Municipal)
    • Sewer:Public Sewer (Sewer-Sanitary)
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BuyOwner last updated this listing 04/04/2025 @ 05:20

  • MLS: 624046226
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: Realcomp II Ltd

is a Multifamily, with 4 bedrooms which is recently sold, it has 2,279 sqft, 0 sized lot, and 0 parking. are nearby neighborhoods.