Pending

3415 FAIRMONT Road

Royal Oak MI, 48073

$4,500,000


$236.36 per sqft

Pending

30 Beds

28 Baths

19,039 sqft

Multi-family

Built in 1961

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% occupied (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.

20240063798

MLS ID

August 27, 2024

Listed

November 22, 2024

Updated

Map

3415 FAIRMONT Road
Royal Oak MI, 48073

Interior Features

Bedrooms

30


Total Bathrooms

28


Full Bathrooms

28


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Baseboard

Exterior/Building Features

Lot Size

1.05 Acres


Architectual Style

Traditional

School Information

School District

Royal Oak

Other Property Details

Area Name

Royal Oak


Taxes

$35,794


Tax Frequency

Annually


Days on Market

62


Garage

No


Parking Total

28


View

No


County

Oakland


Pool

No


Zoning

Multi-Family

Listing History

Date

Event

Price

10/28/2024

Pending

 

Courtesy of Greater Development LLC

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Joyceson Richardson shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Provided through IDX through Realcomp II LTD
Originating MLS:
©2024 Realcomp II LTD Shareholders 

Data last updated 6:09 AM UTC, 11/22/2024

Powered byLuxury Presence