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$978,000
316 Mary Ave, Royal Oak, MI 48073
0 Beds
5 Baths
4,547 sqft

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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
  • Price:
  • $978,000
  • Full Baths:
  • 5
  • Square Footage:
  • 4,547
  • Acreage:
  • 0.20
  • Year Built:
  • 1957
  • Listing ID #:
  • 2200056483
  • Street Address:
  • 316 Mary Ave
  • City:
  • Royal Oak
  • State:
  • Michigan
  • Postal Code:
  • 48073
  • County:
  • Oakland
  • Community:
  • Royal Oak
  • Subdivision:
  • Sunnybrook Sub
  • Listing Status:
  • Accepting Backup Offers
  • Architecture Style:
  • Ranch
  • Exterior Features:
  • Awning/Overhang(s), Outside Lighting
  • Foundation:
  • Slab
  • Foundation Material:
  • Poured
  • Interior Features:
  • De-Humidifier, Dual-Flush Toilet(s), Energy Star Qualified Exhaust Fan(s), Energy Star Qualified Light Fixture(s), Fire Sprinkler, Laundry Facility
  • Number Of 1 Bedroom Units:
  • 3
  • Number Of 2 Bedroom Units:
  • 1
  • Number Of 3 Bedroom Units:
  • 1
  • Number Of Units:
  • 5
  • Porch Description:
  • Deck, Patio
  • Siding:
  • Brick
  • Stories:
  • 2 Story
  • Total Building Square Footage:
  • 4547
  • Type Of Roof:
  • Energy Star Shingles
  • Year Built:
  • 1957
  • Year Renovated:
  • 2019
  • Net Operating Income:
  • 68568.00
  • Conforms To Zoning:
  • Multi-Family
  • Road Frontage:
  • 105
  • Road Frontage Type:
  • Paved
  • Days On Market:
  • 62
  • Financing Options:
  • Cash
  • For Sale Or Lease?:
  • Sale
  • Summer Tax:
  • 5709.0000
  • Winter Tax:
  • 1078.0000
  • Parking Spaces:
  • 6
  • Cooling System:
  • Energy Star Qualified A/C Equipment
  • Existing Water:
  • Municipal Water
  • Heating:
  • Energy Star Qualified Furnace Equipment
  • Heating Fuel:
  • Electric
  • Sewage Type:
  • Sewer-Sanitary
  • Water Heater:
  • Energy Star Qualified Water Heater
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • IDX provided courtesy of Realcomp II Ltd. Real Estate One-Plymouth
  • IDX provided courtesy of Realcomp II Ltd., via The Delia Group and Realcomp II Ltd, ©2020 Realcomp II Ltd. Shareholders FARMHILL

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