Royal Oak Condo Portfolio

Available | $1,860,000

Royal Oak, MI | Units: 12 | Price Per Unit: $155,000 | Avg Sq Ft: 708 | GRM: 9.82 | DSC: 0.95 | Year 1 ROI: 0.76% | Listing Agent: Greg Coulter

Location

Executive Summary

This portfolio includes two properties - Lincoln Street Condos and Normandy Place Condos. These friendly communities are both within walking distance to shopping, banks, parks, and within a great school district. Lincoln Street Condos were built in 1952. This building contains 7 condominium homes: all one-bed / one-bath units each measuring 500 square feet. Normandy Place Condos were built in 1955, and contain 5 condominium townhomes: 4 two-bed / one-bath units each measuring 950 square feet, and 1 two-bed / two-bath unit measuring 1,200 square feet.

Both properties have been well-maintained over the years. All the units have been upgraded to differing degrees, and many of the upgrades have occurred over the past 10 years.