Highland Twp, MI 48356,1298 E HIGHLAND Road

$525,000

$550,000

4.5%
Est.Price: ?

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Est. payment /mo

5 Beds

8 Baths

4,675 SqFt


SOLD DATE : 08/31/2023

Key Details

Sold Price $525,000

Property Type Multi-Family

Sub Type Contemporary,Farmhouse,Other,Quadruplex,Triplex,Upper/Lower Apartment,Craftsman

Listing Status Sold

Purchase Type For Sale

Square Footage 4,675 sqft

Price per Sqft $112

MLS Listing ID 20230010629

Sold Date 08/31/23

Style Contemporary,Farmhouse,Other,Quadruplex,Triplex,Upper/Lower Apartment,Craftsman

Bedrooms 5

Full Baths 8

Originating Board Realcomp II Ltd

Year Built 1974

Annual Tax Amount $5,269

Lot Size 3.680 Acres

Acres 3.68

Lot Dimensions Irregular

Property Description

Amazing opportunity to purchase an income producing water front asset! 8 Apartment units are spread between 2 separate buildings. There are (5) 1 bed/1 bath units, plus (3) studio units that have all been recently upgraded with new paint, flooring, carpet, cabinets, appliances, and more. New roof in 2020, new well, and other recent major upgrades. Each unit has a full bathroom and private entrance. On site parking lot and individual electric meters allow for ease of management, plus recently upgraded and inspected private well and septic systems result in low utility costs. Value add opportunities exist with creating AirBnb STRs (highlighting the water front), on site laundry systems (room to install in maintenance areas), increasing to market rents (details in attached document, OM), and switching utilities into tenant's names. Currently, units are leased with several leases expiring in late 2023. Income projections are shown at full occupancy with market stabilized rents. Contact LA directly for offering memorandum showing detailed financials, property projections, and more. Buyer's agent to verify all information.

Location

State MI

County Oakland

Area Highland Twp

Zoning Multi-Family,Multiple

Direction From US-23 cruise East on M-59 (Highland Rd.). After Harvey Lake Rd. look to the South and you will find this exquisite investment asset ideally situated close to downtown Milford and growing Pontiac. Easily access GM and other large business locations, plus retail and restaurant spaces

Body of Water No Name

Rooms

Basement Finished, Walkout Access, Common

Interior

Interior Features Smoke Alarm, Cable Available, Carbon Monoxide Alarm(s), Circuit Breakers, High Spd Internet Avail

Hot Water Natural Gas, Separate Meters

Heating Forced Air, Separate Meters

Cooling Separate Meter, Window Unit(s)

Fireplace no

Heat Source Natural Gas

Exterior

Exterior Feature Lighting

Garage Spaces 10.0

Waterfront Description Direct Water Frontage,Lake Front,No Motor Lake,Pond,Private Water Frontage,Water Front

Roof Type Asphalt

Porch Breezeway

Road Frontage Paved

Garage no

Building

Foundation Basement

Sewer Septic Tank (Existing)

Water Well (Existing)

Architectural Style Contemporary, Farmhouse, Other, Quadruplex, Triplex, Upper/Lower Apartment, Craftsman

Level or Stories 2 Story

Structure Type Brick,Block/Concrete/Masonry,Other,Vinyl,Wood

Schools

School District Huron Valley

Others

Pets Allowed Yes

Tax ID 1123304002

Ownership Corporate/Relocation,Short Sale - No

Acceptable Financing Cash, Conventional, Owner May Carry(Purchase Money Mortgage), Trade/Exchange, VA, Warranty Deed

Rebuilt Year 2023

Listing Terms Cash, Conventional, Owner May Carry(Purchase Money Mortgage), Trade/Exchange, VA, Warranty Deed

Financing Cash,Conventional,Owner May Carry(Purchase Money Mortgage),Trade/Exchange,VA,Warranty Deed

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Realcomp MLS
Listed by Kevin Johnston of Casablanca Real Estate Company, LLC
Bought with Good Company
agent-avatar

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(248) 794-0004

shane@thesateam.com

130 W 5th Ave, Oak, MI, United States

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