31
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$1,199,000
Est. payment /mo
8 BA
4,852 SqFt
Pending
617 E HUDSON Avenue Royal Oak, MI 48067 3336
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UPDATED:
12/09/2024 11:59 PM
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 4,852 sqft
Price per Sqft $247
Subdivision Mi
MLS Listing ID 60339891
Style 1 Story
Full Baths 8
Year Built 1956
Annual Tax Amount $15,577
Lot Size 0.450 Acres
Acres 0.45
Lot Dimensions 66.00 x 292.00
Property Description
Incredible Investment Opportunity just minutes from Downtown Royal Oak! This 8 Unit multifamily has over $100K in capital improvements in 2024 including New Windows, Vertical Steel Siding/Soffits/Fascia/Gutters, New Sign, Exterior Painting, Laundry Facilities and complete renovation of Unit 1. There is great upside potential to increase rent after renovations: Unit 1 (2Bed/1Bath) was previously renting at $1025/mo and post renovation is now at $1700/mo. The 1Bed/Bath units once renovated should go for upward of $1300/mo. There is additional tremendous opportunity for rental income growth to convert units to Short Term Rentals as shown through AirDNA on the 1Bed/1Bath Units. This property is ideally located in Royal Oak; Situated adjacent to a brand new park and with excellent proximity to Beaumont Hospital, The Detroit Zoo, Royal Oak Music Theater, Major Freeways, Downtown Detroit and DTW. Royal Oak is housed in Oakland County which is the wealthiest county in all of Michigan and the second largest, which drives the demand for housing and short term rentals, alike! Reach out to Chris for additional investment/financial/area information!
Location
State MI
County Oakland
Area Royal Oak (63251)
Rooms
Basement Poured
Interior
Heating Baseboard, Hot Water
Cooling Window Unit(s)
Fireplace No
Exterior
Exterior Feature Aluminum, Brick
Amenities Available Laundry Facility
Building
Story 1 Story
Foundation Slab
Water Public Water
Structure Type Aluminum,Brick
Schools
School District Royal Oak Neighborhood Schools
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
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Listed by Real Estate One-Brighton
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