140 SUMMIT Street new Save Request In-Person Tour Request Virtual Tour
Pontiac,MI 48342
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Pontiac
Subdivision Pontiac
MLS Listing ID 20250016309
Originating Board Realcomp
Year Built 1930
Annual Tax Amount $2,957
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 40X100X40X100
Property Description
Great Investment Opportunity! This 4-unit brick apartment building comes with two additional vacant lots, offering potential for expansion or added value. Three units currently leased and producing $2,985 in monthly rental income as-is. Owner covers all utilities, with 1 water heater and 2 furnaces servicing the property. Apartment 4 has been freshly painted and is ready for a new tenant. Some deferred maintenance: oven in Unit 1 and dishwasher need repair. Owner owns fridge, stove and dish. The property has a strong rental history with a consistent rent roll, and the vacant unit may have a tenant soon. Unit 4 could have an agency placed (like section 8) tenant if the buyer would like. FHA/VA financing may be considered; however, some properties may require FHA/VA repairs that the seller may not be able to complete. An optimal FHA/VA offer would likely include the buyer covering up to a certain amount of repairs, with any remaining repairs to be addressed separately. Possible package deal available—seller may consider package discounts for a total of four buildings: 531 Bryant St, Kalamazoo, MI 49001, 130 S 8th St, Lansing, MI 48912, 1380 College Ave, Lincoln Park, MI 48146. Don't miss this chance to own a multi-unit property with extra land for future opportunities!
Location
State MI
County Oakland
Area Oakland County - 70
Zoning Multi-Family
Direction S of W Montcalm St / E of Baldwin Ave
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Sewer Public
Water Public
Structure Type Aluminum Siding,Brick
Schools
School District Pontiac
Others
Tax ID 1420311005
Acceptable Financing Cash,Conventional,FHA,VA Loan
Listing Terms Cash,Conventional,FHA,VA Loan