For Sale
51 SPOKANE Drive, Pontiac, MI 48341
$1,900,000
MLS # 20261018060 (Realcomp)
Built 19401.15 acres
1 / 67
Listing 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.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.
Source: SparkMLS
About this home
18-bath home in Pontiac in Pontiac built in 1940.
Listed at $1,900,000.
Estimated annual property tax: $16,813, or about $1,401 monthly. Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Electric service is provided by DTE Electric Company; natural gas by Consumers Energy Company.
Listing Property Details
Property TypeMulti Family
Bathrooms18
Lot Size1.15 acres
Year Built1940
Location
CityPontiac
MunicipalityPontiac
Zip Code48341
CountyOakland
School DistrictPontiac
Construction & Systems
ConstructionBrick
HeatingForced Air
WaterPublic
Sale & Financing
Listed4/2/2026
Terms AcceptedCash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$16,813
State Equalized Value$390,670
Taxable Value$295,180
Parcel #1430402009
Source: Public Records
Legal Description
T3N, R10E, SEC 30 ASSESSOR'S PLAT NO. 109 LOTS 17 TO 25 INCL, ALSO LOTS 40 TO 48 INCL
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by James T Silver
Keller Williams Somerset
Frequently Asked Questions about 51 SPOKANE Drive, Pontiac, MI 48341
What school district is 51 SPOKANE Drive, Pontiac, MI 48341 in?
Per MLS# 20261018060, this property is served by Pontiac. In Michigan, school district boundaries are set by the state and do not always follow city limits.
What financing options are available for 51 SPOKANE Drive, Pontiac, MI 48341?
Per MLS# 20261018060, the seller has indicated this property accepts the following financing types: Cash, Conventional. Financing acceptance is subject to change — confirm with the listing agent.
How much are property taxes for this home?
Per MLS# 20261018060, the most recent reported annual property tax for 51 SPOKANE Drive, Pontiac, MI 48341 is $16,813. Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Is 51 SPOKANE Drive, Pontiac, MI 48341 eligible for USDA financing?
Per USDA Rural Development boundary data, 51 SPOKANE Drive, Pontiac, MI 48341 is not in an eligible area. USDA eligibility is based on property location — properties within designated urban zones are excluded. Other low-down-payment options (FHA, VA) may still be available.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 51 SPOKANE Drive, Pontiac, MI 48341 is in flood zone X (minimal risk). Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: Consumers Energy Company. Water: Public. Confirm service details directly with providers.
How safe is this area?
Per our practice, crime and safety data should be obtained directly from the authoritative source. Oakland County law enforcement agencies participate in CLEMIS (Courts and Law Enforcement Management Information System) for public safety records.
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Monthly payment$12,323
Principal & interest$12,323
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
DTE Electric Company
Investor-Owned
Consumers Energy Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
51 SPOKANE Drive, Pontiac, MI 48341
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Municipality
Pontiac
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County
Oakland County
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