$260,000
$260,000
For more information regarding the value of a property, please contact us for a free consultation.
1 Bed
3 Baths
1,380 SqFt
SOLD DATE : 12/18/2020
Key Details
Sold Price $260,000
Property Type Multi-Family
Sub Type Colonial
Listing Status Sold
Purchase Type For Sale
Square Footage 1,380 sqft
Price per Sqft $188
Subdivision Eloise Park Sub
MLS Listing ID 2200088758
Sold Date 12/18/20
Style Colonial
Bedrooms 1
Full Baths 3
Originating Board Realcomp II Ltd
Year Built 1910
Annual Tax Amount $4,055
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 45.00X102.00
Property Description
This multi-family home within actual walking distance to downtown Royal Oak could be one of the best investment opportunities for you. This building has 3 income-producing units - 2 studios on the second floor both rented by long terms tenants and a one bedroom on the main floor that rents for $60/night on Airbnb. You could buy this property and create cash flow immediately. Apt 1, the one bedroom unit, is ready to go and fully-furnished for an additional cost. This could rent for over $1,200/month as is. Apt 2, the studio facing Catalpa, does not have a full kitchen but has been rented by the same tenant for decades. Apt 3, the studio at the back, has a large, updated bathroom and small but full kitchen. With some updating, the studios could easily rent out about $900/month. Another great option is to convert the second floor units into one 2 bed/2 bath unit, which could rent out around $2,000/month. Updated two unit homes sell for upwards of $400,000. Talk about options!
Location
State MI
County Oakland
Area Royal Oak
Zoning Multi-Family
Direction From Main St, West on Catalpa Dr, first house on South side of street, park on Center St.
Rooms
Basement Interior Access Only, Unfinished
Interior
Interior Features Laundry Facility
Hot Water Natural Gas
Heating Forced Air
Cooling Window Unit(s)
Fireplace no
Heat Source Natural Gas
Exterior
Roof Type Asphalt
Porch Porch, Porch - Covered
Road Frontage Paved
Garage no
Building
Foundation Basement
Sewer Sewer-Sanitary
Water Municipal Water
Architectural Style Colonial
Level or Stories 2 Story
Structure Type Aluminum,Vinyl
Schools
School District Royal Oak
Others
Pets Allowed Yes
Tax ID 2516427008
Ownership Private Owned,Short Sale - No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
©2024 Realcomp II Ltd. Shareholders
Bought with Community Choice Realty Associates
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "