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    21 Saginaw St Pontiac, MI 48342

    Sponsored
    For Sale
    $785,000

    Five-unit building, high ROI potential.

    Property size:
    7,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a well-maintained, three-story mixed-use apartment building located at 21 N Saginaw St, Pontiac, MI 48342. Boasting 7,500 square feet on a 2,500 square foot lot, this Class C property offers five units, each with in-unit washer/dryer and central heat and air conditioning. The building underwent significant renovations in 2018, including a complete roof tear-off and new facade windows. Rear units feature private outdoor balconies. Currently fully rented, this stabilized investment boasts a 7% cap rate and a net operating income (NOI) of $54,985, translating to a price per unit of $157,000 and a price per square foot of $104.67. The asking price is $785,000. Built in 1920, the property benefits from its prime location across from the Strand Theatre and minutes from the Oakland County headquarters and the upcoming 100-unit Oakland Town Center redevelopment. The ground floor currently houses a retail tenant under lease until 2026. The second floor features a spacious, full-floor unit, ideal for owner occupancy. Recent renovations and upgraded finishes offer potential for further rental income upside. This is a rare chance to acquire a stable, high-performing multifamily asset in a rapidly developing area.

    Property Features for 21 Saginaw St

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,500 SF
    Class
    C

    Building Details

    Year Built/Renovated
    1920/2018
    Buildings
    1
    Stories
    3
    Units
    5

    HighLights

    • Well‑maintained, three‑story mixed‑use building with five units, located at 21 N Saginaw St, Pontiac, MI.
    • 7,500 square feet on a 2,500 square foot lot; Class C property.
    • Fully renovated in 2018 (roof, facade windows); rear units have private balconies.
    • All units feature in‑unit washer/dryer and central heat/AC; currently fully rented with a 7% cap rate and $54,985 NOI.
    • Asking price: $785,000 ($157,000 per unit, $104.67 per square foot); ground floor retail space leased until 2026.
    Property Profile Location Intelligence

    Current Use by Public Records

    Life Triage Consultant JesMia Lofts Apartment Building Electric Love Tattoo Tattoo Shop

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pontiac
    County
    Oakland
    State
    Michigan
    Longitude
    -83.29219561
    Latitude
    42.63734551

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit building, high ROI potential.
    Where is this multifamily property located?
    The property is located at 21 Saginaw St Pontiac, MI.
    What is the asking price?
    The asking price for this property is $785,000.
    What are key features of this property?
    This property features: Well-maintained, three-story mixed-use building with five units, located at 21 N Saginaw St, Pontiac, MI.; 7,500 square feet on a 2,500 square foot lot; Class C property.; Fully renovated in 2018 (roof, facade windows); rear units have private balconies.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    21 Saginaw St Pontiac, MI 48342
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