Oakland | 314 Oakland Ave
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Oakland 314 Oakland Ave
20 Unit Apartment Building $4,450,000 ($222,500/Unit) 6.10% Cap Rate Royal Oak, MI 48067
Investment Highlights
- Walkable
- Great Location
- Stabilized
Executive Summary
The Royal Oakland is a fully stabilized, 20-unit apartment building located in the desirable community of Royal Oak, Michigan. This trophy asset features 16 one-bedroom, one-bath units (700 sq. ft.) and 4 two-bedroom, one-bath units (900 sq. ft.). The property has 28 off street dedicated parking spaces for tenants. The property is 100% occupied, generating a gross monthly income of over $33,700.
Property Facts Under Contract
| Price | $4,450,000 | Building Class | C |
| Price Per Unit | $222,500 | Lot Size | 0.80 AC |
| Sale Type | Investment | Building Size | 27,732 SF |
| Cap Rate | 6.10% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1963/2021 |
| Property Subtype | Apartment | Parking Ratio | 1.15/1,000 SF |
| Apartment Style | Low Rise |
| Price | $4,450,000 |
| Price Per Unit | $222,500 |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.80 AC |
| Building Size | 27,732 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2021 |
| Parking Ratio | 1.15/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Refrigerator
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Property Manager on Site
- Recycling
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 700 - 750 |
| 2+1 | 4 | - | 900 - 1,100 |
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Walk Score ®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 25-16-477-022 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $634,260 |
PROPERTY TAXES
Parcel Number
25-16-477-022
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$634,260
zoning
| Zoning Code | AI |
| AI |
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Oakland | 314 Oakland Ave
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