Turnkey Multifamily
16350 Oakley Road Chesaning, MI 48616
For Sale
$353,999
MULTI_FAMILY - Chesaning, MI
Property Size3,280 SF
Lot Size3.50 Acres
Price / SF$107.93
Days on Market277
Property Features for 16350 Oakley Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
5
Rooms
Bedroom 2, Bathroom 3, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 6, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 5
Appliances
Range/Oven, Refrigerator
Standard status
Active
APN
07092131006000
Size
3,280 SF
Lot size
3.50 Acres
Taxes and HOA fees
Tax Annual Amount
3274
Utilities
Heating system
Oil
Water source
Private
Building Details
Year built
1950
Floors in Building
1
Number of units
5
Listing Agency:
Keller Williams First
(517) 625-4663
Listed By:
Kris Delaney · License #6501368129
(989) 277-1265
Added: Oct 27, 2025
Changed: Jul 29
Last Checked: Jul 30 at 1:06AM
MLS# 50192709
Copyright © 2026 Greater Shiawassee Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turnkey multifamily property includes five rental units on 3.5 acres. The unit mix is four one-bedroom units and one two-bedroom unit. The metal roof is approximately eight years old, and the building has vinyl siding. Tenant-paid electricity is in place, while the owner pays gas and garbage.
The property is located at 16350 Oakley Road in Chesaning, Michigan, within the Chesaning school area. The listing notes the property is about 15 minutes north of Owosso.
With a total building size of 3,280 square feet, the configuration is designed to support a combination of one-bedroom and two-bedroom tenant demand under a consistent utility arrangement.
The property is located at 16350 Oakley Road in Chesaning, Michigan, within the Chesaning school area. The listing notes the property is about 15 minutes north of Owosso.
With a total building size of 3,280 square feet, the configuration is designed to support a combination of one-bedroom and two-bedroom tenant demand under a consistent utility arrangement.
Key Highlights
- 5‑unit investment property on 3.5 acres
- Chesaning schools; about 15 minutes north of Owosso
- Unit mix: four 1‑bedroom units and one 2‑bedroom unit
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.0k | $10.68 |
| − Vacancy | −$1.5k | −$0.45 |
| EGI | $33.6k | $10.23 |
| − OpEx | −$15.1k | −$4.60 |
| NOI | $18.5k | $5.63 |
3,280 SF · lease $10.68/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$263.7K
$230.7K – $307.6K
NOI $18,458 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$606.0K
$530.3K – $707.0K
NOI $42,420 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with five rental units on 3.5 acres, featuring tenant-paid electricity and owner-paid gas and garbage.
Where is this apartment building located?
The property is located at 16350 Oakley Road Chesaning, MI.
What is the asking price?
The asking price for this property is $353,999.
What are key features of this property?
This property features: 5‑unit investment property on 3.5 acres; Chesaning schools; about 15 minutes north of Owosso; Unit mix: four 1‑bedroom units and one 2‑bedroom unit
