Royal Oak, MI 48067,314 OAKLAND Avenue
Royal Oak, MI 48067,314 OAKLAND Avenue
Royal Oak, MI 48067,314 OAKLAND Avenue
Royal Oak, MI 48067,314 OAKLAND Avenue
Royal Oak, MI 48067,314 OAKLAND Avenue
Royal Oak, MI 48067,314 OAKLAND Avenue
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$ 4,450,000
Est. payment | /mo

20 Beds

20 Baths

27,732 SqFt


Save
$ 4,450,000
Est. payment | /mo
Save

20 Beds

20 Baths

27,732 SqFt

Key Details

Property Type Multi-Family

Sub Type Contemporary

Listing Status Active

Purchase Type For Sale

Square Footage 27,732 sqft

Price per Sqft $160

Subdivision Assr'S Plat No 6 - Royal Oak

MLS Listing ID 20240081443

Style Contemporary

Bedrooms 20

Full Baths 20

Originating Board Realcomp II Ltd

Year Built 1963

Annual Tax Amount $34,027

Lot Size 0.800 Acres

Acres 0.8

Lot Dimensions 129.00 x 269.00

Property 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.

Location

State MI

County Oakland

Area Royal Oak

Zoning Multi-Family

Direction Royal Oak

Rooms

Basement Partially Finished

Interior

Heating Forced Air, Hot Water, Separate Meters

Fireplace no

Heat Source Natural Gas

Exterior

Garage Spaces 25.0

Waterfront no

Road Frontage Paved

Garage no

Building

Foundation Basement

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Architectural Style Contemporary

Level or Stories 2 Story

Structure Type Brick

Schools

School District Royal Oak

Others

Pets Allowed Yes

Tax ID 2516477022

Ownership Short Sale - No,Private Owned

Assessment Amount $15

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Realcomp MLS
Listed by Brady Williams of Greater Development LLC

GET MORE INFORMATION

JEFF HIGGINS

Managing Partner | License ID: 6506046014

+1(248) 233-6165

280 North Old Woodward Avenue, Suite 100, Birmingham, MI, 48009, United States

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314 OAKLAND Avenue