$4,450,000
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314 OAKLAND Royal Oak, MI 48067
Multi-Family
Residence
Beds
20
Baths
...
Bed/Bath
27,732
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
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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 spa...ces 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 $500ââ?¬â??$700 per month.
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Source MLS
MiRealSource
Originating MLS
RealComp
MLS#
60350570
Property Type
Multi-Family
Bathrooms
20 Full
Year Built
1963
Square Feet
27,732
sq. ft
Lot Size
0.8
Stories
2.0
Sewer
Public Sewer
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