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$1,900,000
 $10,200 est/mo Sourced by Back At You

51 Spokane Drive,Pontiac, MI 48341

Pontiac, MI 48341

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Description

Rare opportunity on this turn-key, profitable, cash-flowing property! Total of 18 two-bedroom units averaging approximately $1,130/month and roughly 800 sq. ft. each. 17 of the 18 units are currently occupied with tenants current on rent. Property features individual natural gas furnaces for each apartment along with separate utility setups, including individual water metersideal for efficient management and expense control. Each unit offers a private entrance and basement. Extensive updates throughout: 9 units have been fully renovated within the last 4 years, and 16 bathrooms have been completely updated. A new roof was installed across the entire complex in 2024 with a 20-year transferable warranty. Additional improvements include new concrete walkways in the courtyard, cultured stone on 9 porches, newly shingled porch overhangs, updated front exterior doors, glass block windows in every unit, newer gutters, trim, and exterior security lighting. The west side of the building also features a newer asphalt parking lot. 12 units include central air, and 10 units have newer furnaces. Security camera system in place for added peace of mind. One master key provides access to the building for convenience. Please do NOT approach property or tenants without a confirmed showing appointment. Strong upside potential with projected NOI of $259,200 through rent increases on under-market units and leasing the remaining vacancy.

Details

MLS #20261018060
Listing TypeFor Sale
StyleDuplex
Sub-TypeResale
StatusActive
Year1940
Days On Site175
Listing Provided ByKeller Williams Somerset | James T Silver

Features

Bath(s) 18 Total
SQ Feet12,746
BasementY
Story(s)1
Units18
ZoningMulti-Family
Acreage1.15
Water FrontYes

Interior

Cooling Yes / NoNo
Heating Yes / NoYes
HeatingForced Air, Natural Gas

Exterior

RoofAsphalt
Construction MaterialsBrick
Foundation DetailsBasement, Block

Parking

Garage Yes / NoNo
Attached Garage Yes / NoNo

Taxes

Tax Annual Amount16813

Area Information

StateMI
CountyOakland
CityPontiac
Zip Code48341
AreaPontiac
Community NameASSR'S PLAT NO 109 CITY OF PONTIAC
School DistrictPontiac
High SchoolPontiac
Listing VS Median (in ASSR'S PLAT NO 109 CITY OF PONTIAC)
Price:
$1,900,000
low | high
Med:
$1,900,000
50% of Average
sqft:
12,746
low | high
Med:
12,746
50% of Average
$ / sqft:
$149
low | high
Med:
$149
50% of Average
On site:
175
low | high
Med:
175
100% of Average
Sourced by Back At You

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Learn More About This Property

Arterra Realty

Arterra Realty

 (248) 731-0048marketing@arterrarealty.com
StateMI
CountyOakland
CityPontiac
Zip Code48341
AreaPontiac
Community NameASSR'S PLAT NO 109 CITY OF PONTIAC
School DistrictPontiac
High SchoolPontiac
Listing VS Median (in ASSR'S PLAT NO 109 CITY OF PONTIAC)
Price:
$1,900,000
low | high
Med:
$1,900,000
50% of Average
sqft:
12,746
low | high
Med:
12,746
50% of Average
$ / sqft:
$149
low | high
Med:
$149
50% of Average
On site:
175
low | high
Med:
175
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $1.425M - $2.375M
sqft: 9,500 - 15,500
Nearby Listings Property ImageNearby Listings Details
51 SPOKANE Drive Property Photo 1
$1,900,000
51 Spokane Drive
Pontiac, MI 48341
51 SPOKANE Drive Property Photo 1
$1,900,000
51 Spokane Drive
Pontiac, MI 48341
51 SPOKANE Drive Property Photo 1
$1,900,000
51 Spokane Drive
Pontiac, MI 48341
Listing Updated: July 6, 2026 at 5:25:25 PM PDT
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