$4,500,000
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3415 FAIRMONT Royal Oak, MI 48073
Multi-Family
Residence
Beds
28
Baths
19,039
Sq. Ft.
1.05
Acre
Lot
Property Activity
Time on Site
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Days on Market
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Altitude Fairmont is a stabilized 28 unit, apartment building located in Royal Oak, Michigan. There are 26 one bedroom one bath units that are 550 square feet, and 2 two bedroom 1 bath units that are 750 square feet. There are 28 parking spaces for the apartment building. The property is 93% occupie...d (two vacancies) grossing over $36,000 per month. The property has gone through a partial renovation over the past 2 years. The parking lot was replaced 2 years ago with a 2 inch overlay, so it is in great shape. 19 of the 28 units have gone through extensive interior renovations including new flooring, cabinets, countertops, bathrooms, paint, and fixtures. 7 of the units have gone through a "mid-grade" renovation which includes a combination of the full renovation, and two units have not been renovated. Each unit renovation cost between $18,000 and $22,000. 21 units also received brand new AC wall units. Tenants have individual electric bills, and there is a RUBS system that bills the tenants back for heat, water, sewer and trash.
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Source MLS
MiRealSource
Originating MLS
RealComp
MLS#
60334886
Property Type
Multi-Family
Bathrooms
28 Full
Year Built
1961
Square Feet
19,039
sq. ft
Lot Size
1.05
Stories
2.0
Sewer
Public Sewer
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