Turn-Key Pontiac Apartment
51 SPOKANE Drive, Pontiac, MI 48341
Apartments,Business And Real Estate - Pontiac, MI
Property size:
12,746 SFLot size:
1.15 AcresPrice / SF:
$149/SF- Added:
- Mar 20, 2026
- Days on Market:
- 61
- Last Refresh:
- May 19 at 1:06 am
Property Features for 51 SPOKANE Drive
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Multi-Family
- Standard status
- Active
- APN
- 1430402009
- Size
- 12,746 SF
- Lot size
- 1.15 Acres
Taxes and HOA fees
- Tax Annual Amount
- 16813
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1940
- Year renovated
- 2019
- Floors in Building
- 1
- Building materials
- Brick
- Roof type
- Asphalt
- Architectural style
- Other
Listing agent James T Silver (248) 530-7292
Listing office Keller Williams Somerset 888 W Big Beaver Road #200, Troy, MI (248) 649-7200
Listing date Mar 20, 2026
MLS# 20261017986
Listing URL
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High Cash Flow: Turn‑key, profitable property with strong cash flow from 18 two‑bedroom units.
- High Occupancy: 17 of 18 units are currently occupied with tenants current on rent.
- Recent Renovations: 9 units fully renovated within the last 4 years, and 16 bathrooms completely updated.
- New Roof installed in 2024 with a 20‑year transferable warranty.
- Each unit has individual natural gas furnaces and separate utility setups, including individual water meters.
- Current mortgage may be assumable for qualified buyers at 7.0% or less interest rate.
Overview
This turn-key property in Pontiac, MI, presents a rare opportunity. The property features 18 two-bedroom units, each approximately 800 sq. ft. Seventeen of the units are currently occupied, with tenants current on rent. Each apartment has a private entrance and basement. The property features individual natural gas furnaces for each apartment and separate utility setups, including individual water meters. Extensive updates have been completed throughout the complex. Nine 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. Twelve units include central air, and 10 units have newer furnaces. A security camera system is in place. One master key provides access to the building. The property occupies a 1.15-acre lot. The building size is 12746 square feet. Strong upside potential with projected NOI of $259,200 through rent increases on under-market units and leasing the remaining vacancy.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Pontiac
- County
- Oakland
- State
- Michigan
- Longitude
- -83.3175305
- Latitude
- 42.6392954
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Profitable 18-unit apartment complex with recent renovations and strong income potential.
Where is this apartment building located?
The property is located at 51 SPOKANE Drive Pontiac, MI.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: High Cash Flow: Turn‑key, profitable property with strong cash flow from 18 two‑bedroom units.; High Occupancy: 17 of 18 units are currently occupied with tenants current on rent.; Recent Renovations: 9 units fully renovated within the last 4 years, and 16 bathrooms completely updated.
