Active
3415 Fairmont Road
Royal Oak MI, 48073 6408
$4,500,000
$236.36 per sqft
Active
28 Baths
19,039 sqft
Residential
Built in 1961
Altitude Fairmont is a stabilized 28 unit, apartment building located in Royal Oak, Michigan. There are 26 one bedroom one bath units that are 550 square feet, and 2 two bedroom 1 bath units that are 750 square feet. There are 28 parking spaces for the apartment building. The property is 93% occupied (two vacancies) grossing over $36,000 per month. The property has gone through a partial renovation over the past 2 years. The parking lot was replaced 2 years ago with a 2 inch overlay, so it is in great shape. 19 of the 28 units have gone through extensive interior renovations including new flooring, cabinets, countertops, bathrooms, paint, and fixtures. 7 of the units have gone through a "mid-grade" renovation which includes a combination of the full renovation, and two units have not been renovated. Each unit renovation cost between $18,000 and $22,000. 21 units also received brand new AC wall units. Tenants have individual electric bills, and there is a RUBS system that bills the tenants back for heat, water, sewer and trash.
60334886
MLSⓇ ID
August 27, 2024
Listed
September 13, 2024
Updated
Map
3415 Fairmont Road
Royal Oak MI, 48073 6408
Interior Features
Total Stories
2
Total Bathrooms
28
Full Bathrooms
28
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Baseboard
Exterior/Building Features
Lot Size
1.05 Acres
Sewer
Public Sanitary
School Information
School District
Royal Oak Neighborhood Schools
Other Property Details
Area Name
Royal Oak (63251)
Taxes
$35,794
Tax Frequency
Annually
Garage
No
View
No
County
Oakland
Water Source
Public
Pool
No
Listed by Brady Williams with Greater Development LLC
Listing Contact: 360-989-5395
Based on information originating from the MiRealSource as of 9/13/2024. 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.
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Data last updated on 9/13/2024 at 12:58 PM UTC