AN INVESTMENT OPPORTUNITY & BUILDER�S DREAM WITH MULTI-MILLION DOLLAR POTENTIAL! Located on a corner lot in the Heart of Royal Oak, this .5 acre property is booming with potential for a multi-family, 11 unit new construction! The area is blazing hot, just like everything else on the Woodward Corridor, with multi-family buildings surrounding the property. This lot will need to be re-zoned from residential to multi-family. Call for more details.
What is for sale is the colored portion of this front photo. Currently the "yellow" part of the photo is one lot, the sellers will add the "orange" from the parent parcel to the lot which will allow for an easement to the property for a driveway. Please see the photos of a similar lot . The seller owns the parcel to the west where the ranch house sits. (The house is not for sale.) We do not know if you can split the lot into two lots but there is that possibility. We do not have a survey, the buyer will have to get that. One could build a beautiful home here the setting is absolutely lovely!
Check out this amazing lot read for your dream home! Established Royal Oak neighborhood close to parks, downtown Birmingham, and all that Woodward Avenue has to offer. Variance needed prior to building approval.
The median home value in Royal Oak, MI is $281,800. This is lower than the county median home value of $304,600. The national median home value is $338,100. The average price of homes sold in Royal Oak, MI is $281,800. Approximately 61.1% of Royal Oak homes are owned, compared to 31.76% rented, while 7.14% are vacant. Royal Oak real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Royal Oak real estate agent to arrange a tour today!
Royal Oak, Michigan 48073 has a population of 58,368. Royal Oak 48073 is less family-centric than the surrounding county with 29.97% of the households containing married families with children. The county average for households married with children is 32.55%.
The median household income in Royal Oak, Michigan 48073 is $87,316. The median household income for the surrounding county is $86,275 compared to the national median of $69,021. The median age of people living in Royal Oak 48073 is 35.8 years.
The average high temperature in July is 83.4 degrees, with an average low temperature in January of 18.4 degrees. The average rainfall is approximately 33.1 inches per year, with 31.9 inches of snow per year.