12 Mile Rd Madison Heights, MI 48071
- Residential income homes
- 1,485 SF
Current Use by Public Records
- Residential income homes
Property Details for 12 Mile Rd
- Year built
- 1955
- Property size
- 1,485 SF
- Property type
- Residential income homes
Description
This exceptional multifamily investment opportunity presents two renovated rental units situated on a desirable corner lot in Royal Oak, Michigan. The property, built in 1955 and completely renovated in 2024, boasts a total of 1,485 square feet across two units. Unit 817 features two bedrooms and one bathroom, while Unit 823 offers three bedrooms and two bathrooms, with the third bedroom located in a finished basement. Each unit includes separate entrances, private detached garages, and individual driveways, providing tenants with ample parking and privacy. Modernized kitchens and new light fixtures enhance the appeal of both units. The property's convenient location on 12 Mile Road, between Woodward Avenue and Crooks Road, offers easy access to downtown Royal Oak's vibrant shops and restaurants, the Detroit Zoo, and major expressways. Its proximity to Northwood Elementary School adds to its family-friendly appeal. Unit 823 is currently leased until December 2024, presenting an immediate income stream with potential for rental rate increases based on current market values. This turnkey investment is priced at $599,000 and offers a strong return on investment. The property's location and recent renovations make it an attractive option for both seasoned and first-time investors.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Madison Heights
- County
- Oakland
- State
- Michigan
- Longitude
- -83.112
- Latitude
- 42.5045
