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Daniel Nanney

danielnanney@epique.me +1(586) 212-7057

$ 580,000

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Active

417 W Lincoln AVE Royal Oak, MI 48067

3 Baths

2,156 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type MultiFamily

Listing Status Active

Purchase Type For Rent

Square Footage 2,156 sqft

Subdivision A Dondero'S Sub

MLS Listing ID 20261036475

Style Colonial

Full Baths 3

Year Built 1904

Lot Size 7,840 Sqft

Acres 0.18

Property Sub-Type MultiFamily

Property Description

Exceptional investment opportunity in the heart of Royal Oak featuring a beautifully renovated triplex on an oversized professionally landscaped lot in downtown Royal Oak w/ a vibrant downtown dining, shopping, entertainment, & nightlife. This versatile property offers strong rental income potential w/ Unit 1 occupying the entire first floor featuring 2 bedrooms, 1 full bath, hardwood floors, & a charming sunroom currently renting for $1,800/month. Unit 2 offers 1 bedroom, 1 bath, a sunroom, hardwood flooring and rents for $1,400/month. Unit 3 includes 1 bedroom, 1 bath, a private back deck, updated finishes throughout, & rents for $1,350/month. All units feature updated bathrooms, mainly hardwood flooring, granite countertops, & stainless-steel appliances w/ dishwashers. The basement provides abundant storage space along with shared community washer & dryer for all three units. Tenants enjoy both a private parking lot & additional street parking. This property is close to popular restaurants, boutiques, coffee shops, entertainment venues, parks, hospital & nearby Oakland Community College with easy access to major expressways & surrounding communities including Birmingham & Ferndale. Whether you are looking to expand your investment portfolio, owner occupy, redevelop, convert to additional units, or take advantage of the separate vacant land listing for future building potential, this is a rare opportunity in one of Metro Detroit's most desirable locations. Also listed as vacant land. This was a perfect time to sell after turning over the leases. Still time to live in lower level 2 bedroom or you can find a new tenant. Rents have not been increased in a few years and now is the time to invest in walkable downtown Royal Oak. Perfect location for an investor looking to add to their portfolio or any owner occupancy. Investment Potential: This property presents a fantastic opportunity for both seasoned investors & first-time buyers looking to enter the rental market.

Location

State MI

County Oakland

Area Area02251Royaloak

Rooms

Basement Common, Full, Unfinished

Interior

Interior Features EntranceFoyer, HighSpeedInternet

Heating Forced Air, Natural Gas

Cooling Ceiling Fans, Window Units

Fireplace No

Laundry LaundryRoom

Exterior

Parking Features ParkingLot

Pool None

View Y/N No

Roof Type Asphalt

Garage false

Building

Foundation Basement, Block

Sewer Public Sewer

Water Public

New Construction No

Schools

School District Royal Oak

Others

Senior Community false

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition ShortSaleNo, Standard

Pets Allowed Yes

Virtual Tour https://streamable.com/zgqncz

Listed by Tonya Newberry of Max Broock, REALTORS®-Birmingham

Daniel Nanney

Agent License ID: 6501387475

+1(586) 212-7057

Daniel Nanney

417 W Lincoln AVE Royal Oak, MI 48067

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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417 W Lincoln AVE