314 OAKLAND Avenue Royal Oak, MI 48067

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. Over the past two years, the property has undergone extensive renovations. The parking lot was replaced two years ago, and the roof was updated in 2019. Sixteen of the twenty units have received interior upgrades, including new flooring, cabinets, countertops, bathrooms, paint, and fixtures, with each renovation costing around $25,000. These renovated units are commanding rental increases of $500â‚'$700 per month.

• General Features
  • Acreage 0.8
  • Area Municipality Royal Oak (63251)
  • County Oakland
  • Originating MLS RealComp
  • Ownership Private
  • Structure Style 2 Story
  • Styles Contemporary
  • Subdivision ASSR'S PLAT NO 6 - ROYAL OAK
  • Waterfront Y/N No
  • Year Built 1963
  • ZONING Multi-Family
• Building Features
  • Basement Type Partially Finished
  • Exterior Construction Brick
  • FUEL TYPE Natural Gas
  • Foundation Type Basement
  • Heating System Forced Air, Hot Water
• Property Features
  • Sewer Septic Public Sanitary
  • Roads Paved Street
  • Lot Size 129.00 x 269.00
  • Water Public Water
• Schools
  • School District Royal Oak Neighborhood Schools