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Jim Blehm

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

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307 S Laurel St , Royal Oak, MI 48067
$389,900
Est. Payment: $866.44/mo
0 Bed
3 Bath
0 Sqft
Status: Active | Days on site: 17
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House Description

Charming 3 Unit Income Producing Multifamily in the Heart of Royal Oak! Discover a fantastic investment opportunity just blocks from downtown Royal Oak! This charming Craftsman-style multi family home offers timeless character, generous living space, & excellent income-producing potential w/ 3 separate units, each featuring its own private entrance & appliances. The main-floor unit welcomes you w/ a spacious, light-filled living area showcasing beautiful hardwood floors & abundant natural light. The kitchen features ceramic flooring, ample cabinetry & counter space, a convenient eat-in area. The main level has washer/dryer hookup. Two generously sized bedrooms provide plenty of closet space, while the updated bathroom features a new vanity, toilet, fixtures, & refreshed shower tile. The second-floor unit offers 2 bedrooms w/ deep closets & additional storage, along with a comfortable kitchen featuring an eat-in area & a stackable washer/dryer. The updated bathroom includes a new vanity, flooring, & refreshed shower area.The lower-level unit is a cozy studio with an open-concept kitchen and living area, a full bathroom with stand-up shower, and its own washer and dryer. A split heating/cooling system (2022) provides added comfort.Recent improvements include two new furnaces & A/C (2017) serving the first & second-floor units, along w/new electrical panels, offering added peace of mind for the next owner. Outside, enjoy a classic covered front porch, a quiet residential setting, private entrances for all three units, rear parking, and additional street parking. With its desirable location near downtown Royal Oak, shopping, restaurants, entertainment, and major commuter routes, this property offers an excellent opportunity for an investor seeking multiple income streams or an owner-occupant looking to offset their mortgage w/ rental income. Three units all seperate meters. Multiple income opportunities. Prime Royal Oak location!!

Highlights

Listed by Jennifer Arnold , 586-453-3248 Real Estate One-Clinton Twp , 586-783-7888.

Property Type

Multi-Family

Lot/Acreage
0.08

HOA Fee

Year Built

1917

County

Oakland

Neighborhood

Royal Oak City

School District

Royal Oak

Listing ID

20261064729

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:3
  • Full Bathrooms:
Air Cond:Central Air
Fireplaces:
Water:Public

Exterior Features

Lot:Sidewalk
Principal Interest
$866
Taxes
$460
HOA
$0

Home Price

$389,900

Loan Details

30 yrs
%

Down Payment

20%
$77,980
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$866.44

Principal

Taxes

Principal Taxes HOA Total
Monthly $866.44 $460.42 $0.00 $1,326.86
Yearly $10,397.33 $5,525.00 $0.00 $15,922.33
Total $311,920.00 $165,750.00 $0.00 $477,670.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Royal Oak, 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.