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Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

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51 Spokane Dr , Pontiac, MI 48341
$1,900,000
Est. Payment: $9,784.04/mo
0 Bed
0 Bath
12746 Sqft
Status: active | Days on site: 88
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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Agent profile image
Jim Blehm
Team Owner, Realtor®

House Description

Rare opportunity on this turn-key, profitable, cash-flowing property! Total of 18 two-bedroom units averaging approximately $1,130/month and roughly 800 sq. ft. each. 17 of the 18 units are currently occupied with tenants current on rent.Property features individual natural gas furnaces for each apartment along with separate utility setups, including individual water meters—ideal for efficient management and expense control. Each unit offers a private entrance and basement.Extensive updates throughout: 9 units have been fully renovated within the last 4 years, and 16 bathrooms have been completely updated. A new roof was installed across the entire complex in 2024 with a 20-year transferable warranty. Additional improvements include new concrete walkways in the courtyard, cultured stone on 9 porches, newly shingled porch overhangs, updated front exterior doors, glass block windows in every unit, newer gutters, trim, and exterior security lighting. The west side of the building also features a newer asphalt parking lot.12 units include central air, and 10 units have newer furnaces. Security camera system in place for added peace of mind. One master key provides access to the building for convenience.Current mortgage may be assumable for qualified buyers at 7.0% or less interest rate. Please do NOT approach property or tenants without a confirmed showing appointment.Strong upside potential with projected NOI of $259,200 through rent increases on under-market units and leasing the remaining vacancy.

Highlights

Listed by James T Silver , 248-417-9617 Keller Williams Somerset , 248-649-7200. MichRIC

Property Type

Commercial Sale

Lot/Acreage
1.15

Year Built

1940

County

Oakland

Neighborhood

Pontiac

School District

Pontiac

Listing ID

20261017986

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:
Basement:Basement
Other:Public

Exterior Features

Principal Interest
$9,784
Taxes
$1,401

Home Price

$1,900,000

Loan Details

30 yrs
6.676%

Down Payment

20%
$380,000
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Monthly Price:
$9,784.04

Principal

Taxes

Principal Taxes HOA Total
Monthly $9,784.04 $1,401.08 $0.00 $11,185.12
Yearly $117,408.47 $16,813.00 $0.00 $134,221.47
Total $3,522,254.22 $504,390.00 $0.00 $4,026,644.22
Lender profile image
Brian Belinger
Loan Originator
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Market insight data is pulled from the same city as the listing being viewed (Pontiac, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Southwestern Michigan Regional Information Center, LLC and is deemed reliable but not guaranteed accurate.

Data last updated: 2026-08-03T01:53:30.000Z

© 2026 MichRIC