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Listed price in listed location currency (USD).
$1,900,000

0180

MLS® 20261018060

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size 12746 sqft
Garage 
Taxes $16,813
Days Active 41
Lot Size 
Approx. Age 1940
Avg. Price Per Sqft $149
MLS® Number 20261018060

Property Address: 51 Spokane Dr, Pontiac, MI, 48341-1169

Average square foot calculated using Size range provided by listing agent.

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 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. 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.
MLS® Number20261018060
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1940
BasementUnfinished
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Apr 3, 2026List Date
$1,900,000List Price
  • Commute

Commute

Starting Address
Destination Address
51 Spokane Dr, Pontiac, MI

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