Verzell Manor

51 Spokane Dr Pontiac, MI 48341

51 Spokane Dr, Pontiac, MI, 48341
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$2,050,000
Last Verified:
Nov 22, 2024

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Highlights

  • 18 Unit | 25,492 Sq. Ft. | Value-Add Opportunity
  • 88% Occupancy
  • Surrounded by High-demand Rental Market
  • Forecasted Rents Range from $875 to $1,250 per Unit
  • 2024 Renovations | Roof, Sidewalks, Windows, Furnace & Water Heaters, and Interiors
  • New Roof For Entire Complex With 20-year Transferable Warranty (Effective 7/3/24)
  • Close to M-59 & Telegraph Road
  • 16 Min from Oakland County International Airport

Description

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.

Pontiac, Michigan, is a historic city in Oakland County, known for its significant role in the American automotive industry, particularly as a manufacturing hub for General Motors. The city is also recognized for hosting events like the Arts, Beats & Eats festival and for landmarks such as the M1 Concourse motorsports facility and the Pontiac Transportation Museum. It has easy access to major highways and public transportation.


Year Built: 1940
Building Size: 25492sq ft
Lot Size: 1.15 acres

Map of 51 Spokane Dr, Pontiac, MI, 48341

Presented by:
The Jonna Group

Request additional information
Simon Jonna


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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.