Pontiac Multifamily Investment
98 S Edith Street, Pontiac, MI 48342
MULTI_FAMILY - Other - Pontiac, MI
Property size:
5,000 SFLot size:
0.34 AcresPrice / SF:
$140/SF- Added:
- Feb 15, 2026
- Days on Market:
- 96
- Last Refresh:
- May 22 at 2:06 pm
Property Features for 98 S Edith Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Multi-Family
- Bedrooms
- 11
- Bathrooms
- 11
- Rooms
- Bathroom 1, Bathroom 5, Bathroom 9, Bathroom 6, Bathroom 7, Bathroom 3, Bathroom 10, Bedroom 9, Bedroom 7, Bedroom 8, Bedroom 1, Bedroom 6, Bedroom 10, Bedroom 2, Bathroom 11, Bathroom 8, Bedroom 4, Bathroom 2, Bedroom 5, Bedroom 3, Bathroom 4, Basement, Bedroom 11
- Parking
- 13
- Interior features
- Circuit Breakers, Laundry Facility
- Standard status
- Active
- APN
- 1428481022
- Size
- 5,000 SF
- Lot size
- 0.34 Acres
Taxes and HOA fees
- Tax Description
- T3N, R10E, SEC 28 CITIZEN'S DEVELOPMENT COMPANY'S ADDITION LOT 145 TO 147 INCL.
- Tax Annual Amount
- 7307
Utilities
- Heating system
- Wall Furnace
Building Details
- Year built
- 1930
- Floors in Building
- 2
- Number of units
- 11
- Building materials
- Brick
- Architectural style
- Other
Listing agent Brett McKinney (248) 649-7200
Listing office Keller Williams Paint Creek 440 S Main Street, Troy, MI (248) 609-8000
Listing date Feb 15, 2026
MLS# 20261009434
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 potential with total market rent of $10,225 per month.
- Recently renovated: 10 out of 11 units fully renovated with new flooring, kitchens, bathrooms, and wall furnaces.
- New PEX plumbing, updated breaker boxes, and recently recoated roof.
- Separate gas and electric meters for all units.
- One unit has a long‑term Section 8 tenant in place, providing immediate income of $975/month.
- On‑site laundry hook‑ups with potential for coin laundry income.
Overview
This 11-unit apartment building in Pontiac, Michigan, presents a multifamily investment opportunity. The property, situated on a 0.34-acre lot, features approximately 5,000 square feet of space. The building has multi-family zoning and has recently undergone renovations, with 10 out of the 11 units fully renovated. Updated breaker boxes have been installed, and the roof was recoated in the fall. Laundry hook-ups are available on-site, offering the potential for coin laundry. Each unit has separate gas and electric meters. The property's location is in Oakland County, with an intended use as an apartment building or residential income property.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$681.5K
NOI $61,331 @ 9.00% cap · cautious / downside scenario
Moderate
$876.2K
NOI $61,331 @ 7.00% cap · market / base-case scenario
Aggressive
$1.23M
NOI $61,331 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $116.4k | $23.28 |
| − Vacancy | −$4.9k | −$0.98 |
| EGI | $111.5k | $22.30 |
| − OpEx | −$50.2k | −$10.04 |
| NOI | $61.3k | $12.27 |
5,000 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$876.2K
$766.6K – $1.02M
NOI $61,331 @ 7.0% cap · market cap 8.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.08M
$943.7K – $1.26M
NOI $75,492 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Pontiac
- County
- Oakland
- State
- Michigan
- Longitude
- -83.272206
- Latitude
- 42.635403
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Renovated 11-unit apartment building in a profitable area.
Where is this apartment building located?
The property is located at 98 S Edith Street Pontiac, MI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: High cash flow potential with total market rent of $10,225 per month.; Recently renovated: 10 out of 11 units fully renovated with new flooring, kitchens, bathrooms, and wall furnaces.; New PEX plumbing, updated breaker boxes, and recently recoated roof.
