417 W Lincoln AvenueRoyal Oak, MI 48067
$550,000
Listing courtesy of Max Broock, REALTORS®-Birmingham
4
Beds
3
Baths
2,156
Sqft
About
This Home
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.
Details
- Property Type
- Residential Income
- Style
- Multi Family
- Year Built
- 1904
- Lot Size
- 0.18 acres
- Garage Spaces
- 0
- Heating
- Forced Air, Natural Gas
- Cooling
- Ceiling Fan(s), Window Unit(s)
- Basement
- Full, Unfinished
- Annual Taxes
- $12,218
- MLS #
- 20261082137
About Royal Oak
A busy Oakland County downtown packed with restaurants and shops, plus the Detroit Zoo and Woodward Avenue. Tree-lined streets of 1920s to 1950s bungalows and colonials make it a favorite with first-time and move-up buyers.
Gallery
Listing courtesy of Max Broock, REALTORS®-Birmingham. MLS # 20261082137. Information is deemed reliable but not guaranteed and should be independently verified.
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