1002 Washington Ave Royal Oak, MI 48067
- Commercial real estate
- 2,087 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1002 Washington Ave
- Year built
- 1910
- Property size
- 2,087 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a charming, historic two-story apartment building situated in the heart of Royal Oak, Michigan. Boasting a total of 2,087 square feet, this property comprises three one-bedroom units and one studio apartment, all currently occupied at 100% capacity, providing immediate and stable income. Built in 1910, the building exudes timeless character while offering a strong return on investment. The asking price is $565,000, translating to approximately $188,333 per unit and $270.72 per square foot. The property features a convenient two-car garage. All tenants are on month-to-month leases. Located at 1002 S Washington Ave and 309 W Hudson Ave, Royal Oak, MI 48067, this multifamily property benefits from a prime location within a desirable and thriving community, offering strong demographics and significant potential for long-term growth. This is a rare opportunity for investors seeking a stable, income-generating asset in a highly sought-after area. The building's solid occupancy rate and historic charm make it an attractive proposition for discerning 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
- Royal Oak
- County
- Oakland
- State
- Michigan
- Longitude
- -83.1467492
- Latitude
- 42.4814306
