Active

3415 FAIRMONT Road

Royal Oak MI, 48073

$4,500,000


$236.36 per sqft

Active

30 Beds

28 Baths

19,039 sqft

Multi-family

Built in 1961

Altitude Fairmont is a stabilized 28 unit, apartment building located in Royal Oak, Michigan. There are 26 one bedroom one bath units that are 550 square feet, and 2 two bedroom 1 bath units that are 750 square feet. There are 28 parking spaces for the apartment building. The property is 93% occupied (two vacancies) grossing over $36,000 per month.

The property has gone through a partial renovation over the past 2 years. The parking lot was replaced 2 years ago with a 2 inch overlay, so it is in great shape. 19 of the 28 units have gone through extensive interior renovations including new flooring, cabinets, countertops, bathrooms, paint, and fixtures. 7 of the units have gone through a "mid-grade" renovation which includes a combination of the full renovation, and two units have not been renovated. Each unit renovation cost between $18,000 and $22,000. 21 units also received brand new AC wall units. Tenants have individual electric bills, and there is a RUBS system that bills the tenants back for heat, water, sewer and trash.

20240063798

MLS ID

August 27, 2024

Listed

October 2, 2024

Updated

Map

3415 FAIRMONT Road
Royal Oak MI, 48073

Interior Features

Bedrooms

30


Total Bathrooms

28


Full Bathrooms

28


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Baseboard

Exterior/Building Features

Lot Size

1.05 Acres


Architectual Style

Traditional

School Information

School District

Royal Oak

Other Property Details

Area Name

Royal Oak


Taxes

$35,794


Tax Frequency

Annually


Garage

No


Parking Total

28


View

No


County

Oakland


Pool

No


Zoning

Multi-Family

 

Courtesy of Greater Development LLC

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Data last updated 4:38 AM UTC, 10/2/2024

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