314 Oakland Ave - Apartments FOR SALE


Royal Oak, MI 48067
$4,450,000 USD
360-989-5395
314 Oakland Ave, Royal Oak, MI for Sale
$4,450,000 USD
Apartments - FOR SALE
1/21
null | 6.1% Cap Rate

314 Oakland Ave
Royal Oak, MI 48067


HIGHLIGHTS

  • Walkable
  • Stabilized
  • Great Location

OVERVIEW

The Royal Oakland is a fully stabilized, 20-unit apartment building located in the desirable community of Royal Oak, Michigan. This trophy asset features 16 one-bedroom, one-bath units (700 sq. ft.) and 4 two-bedroom, one-bath units (900 sq. ft.). The property has 28 off street dedicated parking spaces for tenants. The property is 100% occupied, generating a gross monthly income of over $33,700.

FOR SALE DETAILS

PRICE

$4,450,000 USD

PRICE/SF

$160 USD /SF

# OF UNITS

20

PRICE/UNIT

$222,500

CAP RATE

6.1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oakland

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,979 SF

ZONING

AI

APN/PARCEL ID

25-16-477-022

ASK ABOUT THIS PROPERTY

Brady WilliamsGreater DevelopmentMore Info
360-989-5395

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Brady WilliamsGreater DevelopmentMore Info
360-989-5395

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.