Real estate listing preview #1Real estate listing preview #2Real estate listing preview #3Real estate listing preview #4Real estate listing preview #5Real estate listing preview #6Real estate listing preview #7Real estate listing preview #8Real estate listing preview #9Real estate listing preview #10
listing
1 of 10
MultifamilyFor Sale
$4,500,000
3415 Fairmont
Royal Oak, MI 48067
Courtesy of Greater Development LLC
MLS: East Central AOR
28Baths
19,039Sq Ft
Est. Mortgage
$23,328/mo

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.

Get in touch
Compliance Image
Community / School Information