314 Oakland Avenue, Royal Oak MI, 48067 1775

Pending

314 Oakland Avenue

Royal Oak MI, 48067 1775

$4,450,000

$160.46 per sqft

Pending

20 Baths

27,732 sqft

Residential

Built in 1963

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 $500aEUR"$700 per month.

60350570

MLSⓇ ID

October 28, 2024

Listed

December 13, 2024

Updated

Map

314 Oakland Avenue
Royal Oak MI, 48067 1775

Interior Features

Total Stories: 2
Total Bathrooms: 20
Full Bathrooms: 20
Fireplace: No
Cooling: No
Heating: Yes
Heating Description: Forced Air, Hot Water

Exterior/Building Features

Lot Size: 0.8 Acres
Architectual Style: Contemporary
Sewer: Public Sanitary

School Information

School District: Royal Oak Neighborhood Schools

Other Property Details

Area Name: Royal Oak (63251)
Taxes: $34,027
Tax Frequency: Annually
Days on Market: 42
Garage: No
View: No
County: Oakland
Water Source: Public
Pool: No

Listing History

Date	Event	Price
12/10/2024	Pending	—

Listed by Brady Williams with Greater Development LLC
Listing Contact: 360-989-5395

Based on information originating from the MiRealSource as of 12/13/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 12/13/2024 at 9:23 PM UTC