$1,900,000

51 Spokane Drive, Pontiac, MI 48341

  • 12,746 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in ——
  • Property Lot Size Icon1.15acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $149/sqft
  • Property List Date Icon Listed 1 day ago

Property Description

Rare opportunity on this turn-key, profitable, cash-flowing property! Total of 18 two-bedroom units averaging approximately $1,130/month and roughly 800 sq. ft. each. 16 of the 18 units are currently occupied with tenants current on rent. Property features individual natural gas furnaces for each apartment along with separate utility setups, including individual water meters - ideal for efficient management and expense control. Each unit offers a private entrance and basement. Extensive updates throughout: 9 units have been fully renovated within the last 4 years, and 16 bathrooms have been completely updated. A new roof was installed across the entire complex in 2024 with a 20-year transferable warranty. Additional improvements include new concrete walkways in the courtyard, cultured stone on 9 porches, newly shingled porch overhangs, updated front exterior doors, glass block windows in every unit, newer gutters, trim, and exterior security lighting. The west side of the building also features a newer asphalt parking lot. 12 units include central air, and 10 units have newer furnaces. Security camera system in place for added peace of mind. One master key provides access to the building for convenience. Current mortgage may be assumable for qualified buyers at 7.0% or less interest rate. Please do NOT approach property or tenants without a confirmed showing appointment. Strong upside potential with projected NOI of $259,200 through rent increases on under-market units and leasing the remaining vacancy.

Listing Status:
Active
Date Added:
April 3, 2026
Data Last Updated:
April 4, 2026 at 11:48PM
Listing Office:
Keller Williams Somerset : 248-649-7200
Listing Agent:
James Silver : 248-417-9617
MLS ID:
60980910
  • Appliances: Gas Water Heater
  • Heating: Forced Air
  • Roofing: Asphalt
  • General: BrickBasement
  • Road/Access: Paved
  • Originating MLS: MiRealSource
  • County: Oakland
  • Zoning: T3NR10ESEC 30 ASSESSOR'S PLAT NO. 109 LOTS 17 TO 25 INCLALSO LOTS 40 TO 48 INCL
  • Water: Public
  • Source: MiRealSource

This listing courtesy of James Silver , Keller Williams Somerset

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

Whitman Elementary School

125 W Montcalm St, Pontiac, MI, 48342

Grades KG-5

1.36 miles away

P

Pontiac Middle School

1275 N Perry St, Pontiac, MI, 48340

Grades 6-8

3.10 miles away

B

Bethune Adult Education

1051 Arlene Ave, Pontiac, MI, 48340

Grades 12-12

3.11 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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