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Home For Sale

Picture of Home For Sale in Pontiac, Michigan, United States

$350,000

130 W Lawrence St
Pontiac, Michigan, United States

8bd 4ba

Listed By: Realtyww Info

Listed On: 06/02/2023

Listing ID: GL10283143 View More Details

Description

Welcome to 130 W Lawrence! Exceptional Investment Opportunity - Turnkey Fourplex in Oakland County. We present a rare investment opportunity in the heart of Pontiac, Michigan - a well-maintained fourplex residential apartment building with three leased units and one freshly updated unit ready for occupancy, the perfect opportunity for the savvy house hacker, the cash flow investor, or a potential Air BnB/ Short Term Rental being located within a mile of two hospitals. The fourplex represents four identical two bed one bath units that rent for $1, 200/month, potentially producing $4, 800/month or $57, 600/year in gross income, and the rent goes up to $1, 260/month at renewal, or $60, 480/year. The units are currently rented to government assisted tenants at market rates and the full rents come in automatically every month without delay. Rent roll, leases, and additional data available upon acceptance of offer. The building is well located as it's a 5 minute walk to downtown and on a quiet dead-end street without through traffic. Across the street is Oakland County's Sheriff's Department's Storage Facility with 24/7 monitoring. The building has passed inspections by the City of Pontiac for the Rental Certificate of Compliance, and has also passed two more inspections by two separate government housing inspectors including MSHDA's Section 8 inspectors, for the current tenants. These approvals are a testament to the exceptional care invested into this building. Seize this opportunity now because the owner is reviewing offers as they come in.

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Listed by: Good Company
Source: The World Property Journal

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