51 SPOKANE Dr Pontiac, MI 48341
New
Profitable 18-unit complex with recent renovations and strong income potential.
Type:Investment
Property size:
14,400 SF- Added:
- Apr 15, 2026
- Days on Market:
- 1
- Last Refresh:
- Apr 4 at 6:55 am
Property Features for 51 SPOKANE Dr
General Information
- Standard status
- Active
- Size
- 14,400 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1940
Listing agent James T Silver License #6502374648 (248) 530-7292
Listing office M77 LLC (248) 530-7292
Listing date Apr 15, 2026
Source Elliman
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of M77 LLC
Overview
Turn-Key Multifamily Investment Opportunity
This property features 18 two-bedroom units, each approximately 800 square feet. Sixteen of the units are currently occupied, with tenants current on rent. Each apartment has its own natural gas furnace and separate utility setups, including individual water meters. Each unit also includes a private entrance and basement. Significant updates have been made throughout the property. Nine units have been fully renovated within the last four 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 nine 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 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 current mortgage may be assumable for qualified buyers at 7.0% or less interest rate. The property has strong upside potential with a projected Net Operating Income (NOI) of $259,200 through rent increases on under-market units and leasing the remaining vacancy.
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 complex with recent renovations and strong income potential.
Where is this apartment building located?
The property is located at 51 SPOKANE Dr 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: Turn‑key, cash‑flowing property with strong upside potential, projected NOI of $259,200.; New roof installed in 2024 with a 20‑year transferable warranty.; Individual natural gas furnaces and separate utility setups for each unit.
