140 SUMMIT Street Pending Save Request In-Person Tour Request Virtual Tour
Pontiac,MI 48342
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Pending
Purchase Type For Sale
Square Footage 2,279 sqft
Price per Sqft $109
Subdivision Drexel Heights Add
MLS Listing ID 20250016309
Style Quadruplex
Bedrooms 4
Full Baths 4
Originating Board Realcomp II Ltd
Year Built 1930
Annual Tax Amount $2,957
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 40X100X40X100
Property Sub-Type Quadruplex
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 Pontiac
Zoning Multi-Family
Direction S of W Montcalm St / E of Baldwin Ave
Rooms
Basement Unfinished
Interior
Interior Features Laundry Facility
Hot Water Natural Gas
Heating Forced Air
Fireplace no
Heat Source Natural Gas
Laundry 1
Exterior
Exterior Feature Lighting
Roof Type Asphalt
Road Frontage Paved
Garage no
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Architectural Style Quadruplex
Level or Stories 2 Story
Structure Type Aluminum,Brick
Schools
School District Pontiac
Others
Pets Allowed Yes
Tax ID 1420311005
Ownership Short Sale - No,Private Owned
Assessment Amount $252
Acceptable Financing Cash,Conventional,FHA,VA
Rebuilt Year 2021
Listing Terms Cash,Conventional,FHA,VA
Financing Cash,Conventional,FHA,VA