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$ 2,330,000
Est. payment | /mo
5.58 Acres Lot
$ 2,330,000
Est. payment | /mo
5.58 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Municipality Pontiac
Subdivision Pontiac
MLS Listing ID 20251035265
Annual Tax Amount $745
Lot Size 5.580 Acres
Acres 5.58
Lot Dimensions Irregular
Source Realcomp
Property Description
Attention investors and developers: this is the opportunity you've been waiting for! Located just 5 minutes from Oakland University, this shovel-ready site requires no variances or rezoning. Zoned for multi-family residential, the approved site plan allows for up to eight 11-unit, 3-story apartment buildings—each with its own garage. Concept drawing is available! With a growing demand for student housing in the area, this is an ideal location to capitalize on a high-demand rental market. Alternatively, take advantage of the flexibility to build and sell the units individually for a more immediate return on investment. Third option, is to sell each unit individually at/around $249,000.00. Price per unit based on maximum density/occupancy of 87/88 units, is approximately $27,100/unit. Price per unit based on minimum density/occupancy is $32,250/unit. Don't miss your chance to develop a highly desirable income-generating property in a thriving area. Reach out today to schedule a tour and explore the full potential of this exceptional site!
Location
State MI
County Oakland
Area Oakland County - 70
Zoning Multi-Family
Direction N or S on MLK Jr Blvd, NE on University Dr, S on Palmer Dr, W on Chestnut St, Lot is on the Left
Exterior
View Y/N No
Schools
School District Pontiac
Others
Tax ID 1422253009
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Brookstone, Realtors LLC
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Tricia Carlson
REALTOR® | Lic# 6506048426