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316 MARY Avenue

$ 979,000
316 MARY AVE ,


Excellent opportunity on this 5-unit brick apartment building located in Royal Oak near the corner of 12 Mile and Main St. Minutes to downtown Royal Oak & Beaumont Hospital. Three 1-bedroom, One 2-bedroom and One 3-bedroom Units. 7% CAP RATE. Fully Occupied. Turn key. 8 Parking Spots. New construction/remodel in 2019. Each unit offers spacious living area, New stony oak floor, dove grey kitchen cabinets, new Samsung Stoves in each unit, New Central Air, with built in dehumidifier & fresh air ventilators. Separate Electric Meters for each apartment. Coin Operated Commercial laundry units Included. On Site Parking. Do not disturb tenants. Tenant Pays: Elec & water. P&L docs available upon request

Address: 316 MARY AVE
Zip: 48073
Open In Google Maps
Property Id : 29937
Price: $ 979,000
Bedrooms: 5
Bathrooms: 5
Building size: 0.20 acres
Available Space: 4547 sq.ft.
Active Openhouse Count: 0
Architecture Level: 2 Story
Architecture Style: Ranch
Assessment: 0
Baths Full: 5
Baths Half: 0
Construction Materials: Brick
County Or Parish: Oakland
Cooling: ENERGY STAR® Qualified A/C Equipment
Directions: Enter on Mary Ave and West of Main St.
Directions From EastWest: W
Directions From EastWest Detail: Main
Directions From NorthSouth: N
Directions From NorthSouth Detail: 12 MIle
DOM: 8
Exterior Features: Awning/Overhang(s),Outside Lighting
Foundation Details: Slab
Foundation Materials: Poured
Frontage Feet: 105
Gross Scheduled Income: 82800.00
Heating: ENERGY STAR® Qualified Furnace Equipment
Heating Fuel: Electric
Income Projection: Actual
Interior Features: De-Humidifier,Dual-Flush Toilet(s),ENERGY STAR® Qualified Exhaust Fan(s),ENERGY STAR® Qualified Light Fixture(s),Fire Sprinkler,Laundry Facility
Last Change Type: New
List Office Name: Real Estate One-Plymouth
List Price By Acre: 4895000.0000
Lock Box Type: Appointment
Living Area Source: Owner
Lot Size Dimensions: 82.00X105.00
MLS: Realcomp II Ltd
MLS Area Major: Royal Oak
MLS Area Major Number: 02251
MLS Number: 2200056483
MF Parking: Lighted
Monthly Rental Income: 7000
Number Of Units Leased: 5
Annual Net Income: 68568.00
Number Of Units Total: 5
Original List Price: 979000.00
Ownership Status: Private Owned,Short Sale - No
Parcel Number: 2509479014
Postal City: Royal Oak
Postal Code Plus 4: 4061
Property Type: Multifamily
Protection Period: 180
Parking Total: 6
Pets Allowed: No
Porch Type: Deck,Patio
Road Frontage Type: Paved
Roof Material: ENERGY STAR® Shingles
Room Count: 0
School District: Royal Oak
Settlement: City
Sewer: Sewer-Sanitary
Short Sale: No
State Equalized Value: 164440.0000
Street Name: MARY
Street Number: 316
Street Suffix: Avenue
Subdivision Name: SUNNYBROOK SUB
Sqft Combined: 4547
Table: Multi Family
Tax Amount Summer: 5709.0000
Tax Amount Winter: 1078.0000
Tax Legal Description: T1N, R11E, SEC 9 SUNNYBROOK SUB LOTS 9 & 10
Title: Private - Owned
Total Tax: 6787.0000
Unit Count: 5
Unit Efficiency Number Of: 0
Unit Four Bed Number Of: 0
Unit Loft Number Of: 0
Unit One Bed Number Of: 3
Unit Three Bed Number Of: 1
Unit Two Bed Number Of: 1
Water Heater Fuel: ENERGY STAR® Qualified Water Heater
Water Source: Municipal Water
Year Built: 1957
Year Remodeled: 2019
Zoning: Multi-Family
Customer Comment: Yes
Encroachment: No
Existing Lease: No
Inventory List: No
Land Contract: No
Legal Rental Certified: Yes
Publish Sale Price: Yes
Restrictions: No
Waterfront: No
Zone Conform: Yes
Basement: No
Down Payment Resource: No
Percent Homestead Exempt: No
Pool: No
IDX provided courtesy of Realcomp II Ltd., via Real Estate One-Plymouth and Realcomp, © 2022 Realcomp II Ltd. Shareholders.

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