Back to Search

Turn-Key Multifamily Investment Opportunity

51 SPOKANE Dr, Pontiac, MI 48341

View on Map

For Sale

$1,900,000

Profitable 18-unit complex with recent renovations and strong income potential.

Type:Investment

Property size:

14,400 SF

Price / SF:

$131/SF

HighLights

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.
Extensive updates throughout, including 9 fully renovated units and 16 updated bathrooms.
Current mortgage may be assumable for qualified buyers at 7.0% or less interest rate.
Each unit features a private entrance and basement.

We can help!

Listing Contact

James T Silver

Learn more

For Sale

$1,900,000

Profitable 18-unit complex with recent renovations and strong income potential.

Type:Investment

Property size:

14,400 SF

Price / SF:

$131/SF

Added:: Apr 15, 2026
Days on Market:: 59
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

We can help!

Listing Contact

James T Silver

Listing agent James T Silver License #6502374648

Listing office M77 LLC

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

HighLights

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.
Extensive updates throughout, including 9 fully renovated units and 16 updated bathrooms.
Current mortgage may be assumable for qualified buyers at 7.0% or less interest rate.
Each unit features a private entrance and basement.

Overview

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

Suggested Use

Location Insight

Map
Local Demand

City: Pontiac
County: Oakland
State: Michigan
Longitude: -83.3175305
Latitude: 42.6392954

Nearby Similar for Sale

$599,999

4,256 SF

Spacious Multifamily Investment Opportunity

Six-unit multifamily property in Pontiac with individual utilities.

109 Cadillac Street, Pontiac, MI 48342

View Details
$150,000

1,672 SF

Commercial C-3 Corridor Site

Commercially zoned site offering redevelopment flexibility with an existing history as a self-serve car wash.

684 Auburn Avenue, Pontiac, MI 48342

View Details
$1,900,000

12,746 SF

Turn-Key Multifamily Investment Opportunity

Profitable 18-unit apartment complex with recent renovations and strong income potential.

51 SPOKANE Drive, Pontiac, MI 48341

View Details
$1,900,000

12,746 SF

Turn-Key Pontiac Apartment Complex

Profitable 18-unit apartment complex with recent renovations and strong income potential.

51 SPOKANE Drive, Pontiac, MI 48341

View Details
$200,000

4,904 SF

Pontiac Vacant Commercial Building

Vacant 4904 SF building suitable for multiple uses.

179 EDISON Street, Pontiac, MI 48342

View Details
$700,000

4,804 SF

Pontiac Multifamily Investment Opportunity

Renovated 11-unit apartment building in a profitable area.

98 S Edith Street, Pontiac, MI 48342

View Details
$499,900

4,800 SF

Pontiac Industrial Building with Apartment

Industrial building with apartment near I-75 and Auburn Hills.

1570 Baldwin Avenue, Pontiac, MI 48340

View Details
$700,000

5,000 SF

Pontiac Multifamily Investment Opportunity

Renovated 11-unit apartment building in a profitable area.

98 S Edith Street, Pontiac, MI 48342

View Details
$249,900

1,000 SF

Waterford Commercial Building on Voorheis

Remodeled 1,000 SF building with high visibility.

2409 Voorheis Street, Waterford, MI 48341

View Details
$850,000

984 SF

M1 Concourse Private Garage

Luxury garage with racetrack views, golf simulator, and smart home.

135 Speed Way, Pontiac, MI 48341

View Details
$2,200,000

1,264 SF

M1 Concourse Combined Units

Rare combined units perfect for automotive display and entertaining.

40 Straightaway Drive, Pontiac, MI 48341

View Details
$149,900

2,616 SF

Pontiac Commercial Property with Development Potential

Well-maintained commercial building with income and multi-family development opportunity.

349 E Pike Street, Pontiac, MI 48342

View Details

For sale
Apartment buildings
MI
Pontiac
48341
51 SPOKANE Dr

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.