$938,000
$1,100,000
14.7%For more information regarding the value of a property, please contact us for a free consultation.
18 Baths
6,604 SqFt
SOLD DATE : 05/08/2024
Key Details
Sold Price $938,000
Property Type Multi-Family
Sub Type Ranch
Listing Status Sold
Purchase Type For Sale
Square Footage 6,604 sqft
Price per Sqft $142
MLS Listing ID 20230102214
Sold Date 05/08/24
Style Ranch
Full Baths 18
Originating Board Realcomp II Ltd
Year Built 1953
Annual Tax Amount $11,382
Lot Size 4.000 Acres
Acres 4.0
Lot Dimensions 638x375x296x530
Property Description
18 Units Studio Apartment/Motel Located Off Dixie Hwy in Davisburg. Well Maintained. We are undergoing transforming every room currently to subsidized housing section 8 which includes new mini kitchens. 18 units x $885 avg = $191,660 year. We have an excellent relationship with multiple housing agencies who send endless people to us for application. Propane is used for the water heater only. Motel was in the Movie Real Steel.
Updates as follows
1.) 100% complete rewire with (5) dedicated circuits to each room.
2.) Attic and basement and access tunnel new lighting and branch circuit infrastructure
4.) New electric baseboard heat every unit
5.) Wifi enabled remote control (property owner) thermostats every unit. Stops anyone from increasing temp past setting.
6.) All units remote control push button front door locks. Wifi enabled to control entry. Codes can be changed remote.
7.) complete 16 high definition camera system with microphones and large capacity NVR storage device to monitor premises.
8.) Mostly new flat screen TV’s with remote
9.) New WiFi routers and boosters throughout bldg
10.) Wifi enabled remote relay system to monitor and control individual unit power consumption. Power can be turned on and off to individual circuits via remote access.
11.) New PEX hot and cold water feeds throughout complete bldg
12.) New Blown in insulation in attic
13.) LED lighting installed throughout
14.) LED exterior wall pack lights installed
15.) LED porch lights installed
16.) New bushes flower beds and mulch
17.) New septic field
18.) New septic tank access lids
Basically this place can run itself via technology and remote control without on site management.
Location
State MI
County Oakland
Area Groveland Twp
Zoning Multi-Family
Direction Off Dixie Hwy Between Buckell Lake Rd & Oakhill Rd
Interior
Hot Water LP Gas/Propane
Heating Hot Water
Fireplace no
Heat Source Natural Gas
Exterior
Exterior Feature Lighting
Waterfront no
Roof Type Asphalt
Road Frontage Paved, Highway
Garage no
Building
Foundation Slab
Sewer Septic Tank (Existing)
Water Well (Existing)
Architectural Style Ranch
Level or Stories 1 Story
Structure Type Brick
Schools
School District Holly
Others
Pets Allowed Yes
Tax ID 0233102005
Ownership Short Sale - No,Private Owned
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
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280 North Old Woodward Avenue, Suite 100, Birmingham, MI, 48009, United States