Active

51 Spokane Drive

Pontiac, Michigan 48341

$1,900,000 $8,010/Mo

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Overview

Bed

Bath

12,746

Sqft

1.15

Acres(Lot)

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 ston e 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.

Property Details

Property Type : Multifamily

Price : $1,900,000

AD Id : 76768915

MLS Id : 20261018060

Beds : 36

Lot Size : 1.15 Acres

Living Area Size : 12,746

Year Built : 1940

County : Oakland

Subdivision: Assr's Plat No 109 City Of Pontiac

Map

What's Nearby

Nearby Areas

Features

Bathroom Information

Total Baths: 18 Full Baths: 18
Interior Features

Roof: Asphalt Basement Description: Unfinished
Heating & Cooling

Heating: Forced Air Heating Fuel: Natural Gas

Water Heater

Electric

Building Information

Year Built: 1940 Building Stories: 1 Story Total Units: 18 Roof: Asphalt Foundation/Basement: Basement Architecture: Other
Exterior Features

Construction: Brick
Utility Features

Sewer: Sewer (Sewer-Sanitary)
Water

Public (Municipal) Water Heat: Electric

Lot Information

Lot Size: 1.15 Lot Dimensions: 236x210 Frontage Feet: 236
Property Information

SQ ft: 12746 Subdivision: ASSR'S PLAT NO 109 - CITY OF PONTIAC Financing: Cash,Conventional

Listing Price Information

Original List Price: $1,900,000
Listing Information

Possession: At Close Legal Description: T3N, R10E, SEC 30 ASSESSOR'S PLAT NO. 109 LOTS 17 TO 25 INCL, ALSO LOTS 40 TO 48 INCL

Tax Information

Annual Tax: $16,813 Parcel Number: 1430402009
Possession

At Close
Legal Information

Legal Description: Section: T3N, R10E, SEC 30 ASSESSOR'S PLAT NO. 109 LOTS 17 TO 25 INCL, ALSO LOTS 40 TO 48 INCL

Unit 2 Information

# of Bedrooms: 18

School Information

School District: Pontiac
Utility Information

Water: Public (Municipal) Sewer: Sewer (Sewer-Sanitary)

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
323 Ferry Avenue , Pontiac, MI, 48341	$100,000	3	--	--
44784 Woodward Avenue , Pontiac, MI, 48341	$1,400,000	23	23	6,567	6,567 SqFt
156 Mark Avenue , Pontiac, MI, 48341	$279,900	4	3	1,854	1,854 SqFt
832 W Huron Street , Pontiac, MI, 48341	$239,900	4	2	1,862	1,862 SqFt

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Disclosure: The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. IDX provided courtesy of Realcomp II Ltd., via ByOwner.com and REALCOMP, Copyright 2026 Realcomp II Ltd. Shareholders. REALTOR (R) licensed in the state of Michigan. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed and to participants of any data share partner MLS.

ByOwner last updated this listing 06/14/2026 @ 20:23

MLS: 20261018060 LISTED BY: James T Silver , Keller Williams Somerset 248-649-7200 SOURCE: Realcomp II Ltd