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$ 250,000
Est. payment /mo
Active Under Contract
140 SUMMIT Street Pontiac, MI 48342
4 Baths
5,227 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Municipality Pontiac
Subdivision Pontiac
MLS Listing ID 20250016309
Originating Board Realcomp
Year Built 1930
Annual Tax Amount $2,957
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 40X100X40X100
Property Description
Great Investment Opportunity! This 4-unit brick apartment building comes with two additional vacant lots, offering potential for expansion or added value. Three units currently leased and producing $2,985 in monthly rental income as-is. Owner covers all utilities, with 1 water heater and 2 furnaces servicing the property. Apartment 4 has been freshly painted and is ready for a new tenant. Some deferred maintenance: oven in Unit 1 and dishwasher need repair. Owner owns fridge, stove and dish. The property has a strong rental history with a consistent rent roll, and the vacant unit may have a tenant soon. Unit 4 could have an agency placed (like section 8) tenant if the buyer would like. FHA/VA financing may be considered; however, some properties may require FHA/VA repairs that the seller may not be able to complete. An optimal FHA/VA offer would likely include the buyer covering up to a certain amount of repairs, with any remaining repairs to be addressed separately. Possible package deal available—seller may consider package discounts for a total of four buildings: 531 Bryant St, Kalamazoo, MI 49001, 130 S 8th St, Lansing, MI 48912, 1380 College Ave, Lincoln Park, MI 48146. Don't miss this chance to own a multi-unit property with extra land for future opportunities!
Location
State MI
County Oakland
Area Oakland County - 70
Zoning Multi-Family
Direction S of W Montcalm St / E of Baldwin Ave
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Sewer Public
Water Public
Structure Type Aluminum Siding,Brick
Schools
School District Pontiac
Others
Tax ID 1420311005
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Listed by S&P Realty