417 Lincoln Ave, Royal Oak, MI

Name: 417 Lincoln Ave, For Sale in Royal Oak - Zoocasa
Brand: Max Broock, REALTORS®-Birmingham
SKU: 20261082137
Price: 550000 USD

House

For Sale

Listed price in listed location currency (USD).

$550,000

030

MLS® 20261082137

Overview

Key Facts

Type Multi Family

Levels Residential Income

Size 2156 sqft

Garage

Taxes $12,218

Days Active 16

Lot Size 0.18 Acres

Approx. Age 1904

Avg. Price Per Sqft $255

MLS® Number 20261082137

Property Address: 417 Lincoln Ave, Royal Oak, MI, 48067-2568

Average square foot calculated using Size range provided by listing agent.

Description

Exceptional investment opportunity in the heart of Royal Oak featuring a beautifully renovated triplex on an oversized professionally landscaped lot in downtown Royal Oak w/ a vibrant downtown dining, shopping, entertainment, & nightlife. This versatile property offers strong rental income potential w/ Unit 1 occupying the entire first floor featuring 2 bedrooms, 1 full bath, hardwood floors, & a charming sunroom currently renting for $1, 800/month. Unit 2 offers 1 bedroom, 1 bath, a sunroom, hardwood flooring and rents for $1, 400/month. Unit 3 includes 1 bedroom, 1 bath, a private back deck, updated finishes throughout, & rents for $1, 350/month. All units feature updated bathrooms, mainly hardwood flooring, granite countertops, & stainless-steel appliances w/ dishwashers. The basement provides abundant storage space along with shared community washer & dryer for all three units. Tenants enjoy both a private parking lot & additional street parking. This property is close to popular restaurants, boutiques, coffee shops, entertainment venues, parks, hospital & nearby Oakland Community College with easy access to major expressways & surrounding communities including Birmingham & Ferndale. Whether you are looking to expand your investment portfolio, owner occupy, redevelop, convert to additional units, or take advantage of the separate vacant land listing for future building potential, this is a rare opportunity in one of Metro Detroit’s most desirable locations. Also listed as vacant land. This was a perfect time to sell after turning over the leases. Still time to live in lower level 2 bedroom or you can find a new tenant. Rents have not been increased in a few years and now is the time to invest in walkable downtown Royal Oak. Perfect location for an investor looking to add to their portfolio or any owner occupancy. Investment Potential: This property presents a fantastic opportunity for both seasoned investors & first-time buyers looking to enter the rental market.

MLS® Number20261082137

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1904

BasementCommon, Full, Unfinished

DrivewayParking Lot

Garage Spaces

HeatForced Air, Natural Gas

A/CCeiling Fans, Window Units

Extras

Map

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