314 Oakland Avenue

Royal Oak, Michigan 48067

  • 24 Bed(s)
  • 20 Bath(s)
  • 27,732 Sqft
  • 0.8
    Acre(Lot)
$4,450,000

Description

The royal oakland is a fully stabilized, 20-unit apartment building located in the desirable community of royal oak, michigan. this trophy asset features 16 one-bedroom, one-bath units (700 sq. ft.) and 4 two-bedroom, one-bath units (900 sq. ft.). the property has 28 off street dedicated parking spaces for tenants. the property is 100% occupied, generating a gross monthly income of over $33,700.
over the past two years, the property has undergone extensive renovations. the parking lot was replaced two years ago, and the roof was updated in 2019. sixteen of the twenty units have received interior upgrades, including new flooring, cabinets, countertops, bathrooms, paint, and fixtures, with each renovation costing around $25,000. these renovated units are commanding rental increases of $500–$700 per month.

  • Property Type

    Multifamily

  • Subdivision

    Assr's Plat No 6 Royal Oak

  • County

    Oakland

  • Style

    Contemporary

  • AD ID

    47460028

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Property Details

  • Bathroom Information

    • Total Baths: 20
    • Full Baths: 20

    Interior Features

    • Basement Description: Partially Finished

    Heating & Cooling

    • Heating: Forced Air,Hot Water,Separate Meters
    • Heating Fuel: Natural Gas

  • Building Information

    • Year Built: 1963
    • Building Stories: 2 Story
    • Total Units: 20
    • Foundation/Basement: Basement
    • Architecture: Contemporary

    Exterior Features

    • Construction: Brick

    Utility Features

    • Sewer: Public Sewer (Sewer-Sanitary)

    Water

    • Public (Municipal)

  • Lot Information

    • Lot Size: 0.80
    • Dimensions: 129.00 x 269.00

    Property Information

    • SQ ft: 27732
    • Subdivision: ASSR'S PLAT NO 6 - ROYAL OAK
    • Financing: Cash,Conventional

  • Listing Price Information

    • Original List Price: $4,450,000

    Listing Information

    • Possession: At Close
    • Legal Description: T1N, R11E, SEC 16 ASSESSOR'S PLAT NO 6 LOTS 43 & 44

  • Tax Information

    • Annual Tax: $34,027
    • Parcel Number: 2516477022

    Possession

    • At Close

    Legal Information

    • Legal Description: Section: T1N, R11E, SEC 16 ASSESSOR'S PLAT NO 6 LOTS 43 & 44

  • Parking Information

    • Parking: 25

    Multi-Unit Information

    • Road Frontage: Paved

    Unit 1 Information

    • # of Bedrooms: 16

    Unit 2 Information

    • # of Bedrooms: 4

  • Utility Information

    • Water:Public (Municipal)
    • Sewer:Public Sewer (Sewer-Sanitary)
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BuyOwner last updated this listing 11/14/2024 @ 23:06

  • MLS: 618047370
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: Realcomp II Ltd

is a Multifamily, with 24 bedrooms which is for sale, it has 27,732 sqft, 1 sized lot, and 0 parking. A comparable Multifamily, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Royal Oak , in zip code 48067, this Oakland County Multifamily , it is in the ASSR'S PLAT NO 6 ROYAL OAK Subdivision, are nearby neighborhoods.