Verzell Manor | 51 Spokane Dr
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Verzell Manor 51 Spokane Dr
18 Unit Apartment Building $2,050,000 ($113,889/Unit) 6.56% Cap Rate Pontiac, MI 48341
Executive Summary
Introducing an investment opportunity in the heart of Pontiac, MI. This renovated multifamily complex property contains 18 units, offering investors a prime income-generating asset. Built in 1940 and rejuvenated in 2024, this property combines vintage charm with modern functionality. Zoned AI, it presents flexibility for various potential uses. With a strategic location in Pontiac, this property is poised to capitalize on the area's growth and development. Don't miss this chance to add a distinguished asset to your portfolio, offering both historical character and contemporary appeal.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $2,050,000 | Apartment Style | Low Rise |
| Price Per Unit | $113,889 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.15 AC |
| Cap Rate | 6.56% | Building Size | 25,492 SF |
| No. Units | 18 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1940/2024 |
| Property Subtype | Apartment |
| Price | $2,050,000 |
| Price Per Unit | $113,889 |
| Sale Type | Investment |
| Cap Rate | 6.56% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.15 AC |
| Building Size | 25,492 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1940/2024 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
Site Amenities
- 24 Hour Access
- Controlled Access
- Picnic Area
- Tenant Controlled HVAC
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 18 | - | 645 |
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PROPERTY TAXES
| Parcel Number | 14-30-402-009 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $368,050 |
PROPERTY TAXES
Parcel Number
14-30-402-009
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$368,050
zoning
| Zoning Code | AI |
| AI |
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Verzell Manor | 51 Spokane Dr
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