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About This Home
This 0-bedroom, 0-bathroom commercial at 51 SPOKANE Drive in Pontiac, MI is listed for $1,900,000 ($149 per sqft). Built in 1940, the home offers 12,746 sqft of living space on a 1.15 acres lot.
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 meters—ideal 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.
Current mortgage may be assumable for qualified buyers at 7.0% or less interest rate. 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.
Key Features
- Built in 1940
- 1.15 acre lot
Property Details
Monthly Cost Estimate
$10,162/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
51 SPOKANE Drive
Pontiac, MI 48341
ASSR'S PLAT NO 109 - CITY OF PONTIAC
Property Details
Construction
Heating
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 51 SPOKANE Drive is listed at $1,900,000 ($149/sqft). The estimated monthly payment is $8,233 based on 20% down at 6.5% interest.
Key features include: Built in 1940, 1.15 acre lot.
This property is listed by James T Silver and can be reached at 2485307292 or silverteam01@gmail.com.
