568 E Columbia Ave - Apartments FOR SALE


Pontiac, MI 48340
$749,000 USD
947-517-6226
568 E Columbia Ave, Pontiac, MI for Sale
$749,000 USD
Apartments - FOR SALE
1/17
null | 8.54% Cap Rate

568 E Columbia Ave
Pontiac, MI 48340


OVERVIEW

The 11 unit apartment building is located at 566-68 E. Columbia, Pontiac 48340. The building has been renovated and all units are currently occupied and the studio apartments are in high demand. Current rental income is $7,860 monthly/$94,320 Annually + approximately another $1k annually in laundry machine revenue. LL pays all the utilities so costs are approximately $2500 monthly/$30,000 Annually. Gross rents could be increased by at least $500 monthly/$6000 Annually as well. Current NOI is $64,000. Asking $749,000. The property has private off street parking, is well maintained, and has a detached 3 car garage. Please see the attached pics of the property and let me know if you have any questions.

FOR SALE DETAILS

PRICE

$749,000 USD

PRICE/SF

$107 USD /SF

# OF UNITS

11

PRICE/UNIT

$68,091

CAP RATE

8.54%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Northern Pine

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.45 AC

LAND SF

19,602 SF

ZONING

-

APN/PARCEL ID

14-16-401-005

ASK ABOUT THIS PROPERTY

Brandon Ben-EzraNAI FarbmanMore Info
947-517-6226

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Brandon Ben-EzraNAI FarbmanMore Info
947-517-6226

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.