2 Bedrooms,2 baths, 2 Kitchens Multi family or make it one !! Cute-as-a-Button Ranch with Incredible Potential! Charming, versatile, and full of possibilities! This adorable ranch home can be used as a two-unit rental property, making it an excellent opportunity for investors or owner-occupants looking for additional income. Unit 1 features 1 bedroom, 1 bathroom, a kitchen, and a basement with washer and dryer. Unit 2 is a cozy studio with a combined living room/bedroom, kitchenette, and full bathroom. The home has loads of upgrades, a newly installed picket fence, and fantastic curb appeal. The roof is currently in the process of being completed, adding even more value and peace of mind. Location is another major plus. No car--can't drive? No problem. This home is conveniently walkable to Arby's, Taco Bell, Lefties Restaurant, and a pharmacy. The property currently has a multi-dwelling rental permit. Whether you're looking for an investment property, a home with rental income potential, or a unique property with flexible living arrangements, this cute-as-a-button ranch is definitely worth a look. Great curb appeal + multiple upgrades + two-unit potential + fantastic location = rare opportunity. Owner is a licensed real estate agent in Michigan.
Airport Road Apartments is a 20-unit multifamily community situated on Airport Road in Waterford, Michigan - a stable, in-demand submarket within Oakland County. The property consists of two single-story buildings totaling 11,500 square feet, originally constructed in 1954. All 20 units are one-bedroom, one-bathroom floor plans, offering a consistent and easily managed unit mix that appeals to a broad renter demographic. The property is currently operating at 90% occupancy with gross rental revenue exceeding $17,000 per month, reflecting strong baseline demand. Current rents range from $925 to $975 per month, while market comparables suggest rents of $995 to $1,095 per month are achievable - representing meaningful upside for a new owner willing to execute modest lease-up and repositioning. The current NOI stands at $169,594, supporting a 7.71% cap rate at the asking price of $2,200,000 ($110,000/unit). Tenants are responsible for gas and electric, while the landlord covers water and trash - a utility structure that keeps operating expenses predictable and limits exposure to utility inflation. Notably, each unit features its own individual furnace and air conditioning condenser, providing forced heat and central AC - a rare amenity in a property of this vintage and price point. This setup gives residents full control over their own comfort while eliminating the common landlord headache of shared HVAC systems, and serves as a genuine differentiator in lease-up and tenant retention. The construction is block framing on a slab foundation with wood frame exterior, providing a durable and low-maintenance building envelope.
Multi-family on beautiful private all sports Van Norman Lake. 2500 Square foot built in 1917 and recently updated with 3 official licensed rental status. Home has 5 bedrooms, 3 full baths, 2 fireplaces, and business office with a small art gallery. Includes 200 square foot furnished cottage with natural fireplace and includes 32 foot custom built Mississippi river paddle boat with custom dock.
Waterford is located in Michigan. Waterford, Michigan has a population of 73,111. Waterford is less family-centric than the surrounding county with 27.65% of the households containing married families with children. The county average for households married with children is 32.55%.
The median household income in Waterford, Michigan is $68,279. The median household income for the surrounding county is $86,275 compared to the national median of $69,021. The median age of people living in Waterford is 42.3 years.
The average high temperature in July is 81.5 degrees, with an average low temperature in January of 15.5 degrees. The average rainfall is approximately 32.17 inches per year, with 38.13 inches of snow per year.
