$1,199,000

Incredible Investment Opportunity just minutes from Downtown Royal Oak! This 8 Unit multifamily has over $100K in capital improvements in 2024 including New Windows, Vertical Steel Siding/Soffits/Fascia/Gutters, New Sign, Exterior Painting, Laundry Facilities and complete renovation of Unit 1. There is great upside potential to increase rent after renovations: Unit 1 (2Bed/1Bath) was previously renting at $1025/mo and post renovation is now at $1700/mo. The 1Bed/Bath units once renovated should go for upward of $1300/mo. There is additional tremendous opportunity for rental income growth to convert units to Short Term Rentals as shown through AirDNA on the 1Bed/1Bath Units. This property is ideally located in Royal Oak; Situated adjacent to a brand new park and with excellent proximity to Beaumont Hospital, The Detroit Zoo, Royal Oak Music Theater, Major Freeways, Downtown Detroit and DTW. Royal Oak is housed in Oakland County which is the wealthiest county in all of Michigan and the second largest, which drives the demand for housing and short term rentals, alike! Reach out to Chris for additional investment/financial/area information!

Amenities

• Bedrooms: 0
• Full Bathrooms: 8
• Partial Bathrooms: 0
• Property Type: Multi Family
• Architectural Style: Other
• Home size: 4,852 ft² / 450.76 m²
• MLS: 20240069222
• Web ID: HHMZX2
• Status: Active

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