HeatingNatural Gas, Forced Air, Hot Water, Separate Meters
BasementYes
MLS #20240081443
Lot Size0.80 Acres
StatusActive
About 314 Oakland Ave
The Royal Oakland is a fully stabilized, 20-unit apartment building located in the desirable community of Royal Oak, Michigan. This trophy asset features 16 one-bedroom, one-bath units (700 sq. ft.) and 4 two-bedroom, one-bath units (900 sq. ft.). The property has 28 off street dedicated parking spaces for tenants. The property is 100% occupied, generating a gross monthly income of over $33,700. Over the past two years, the property has undergone extensive renovations. The parking lot was replaced two years ago, and the roof was updated in 2019. Sixteen of the twenty units have received interior upgrades, including new flooring, cabinets, countertops, bathrooms, paint, and fixtures, with each renovation costing around $25,000. These renovated units are commanding rental increases of $500–$700 per month.
Property Details
Property Features
Property Information:
Architectural Style: Contemporary
Year Built: 1963
Stories: 2
Living Area: 27,732 SqFt
Listing Office:
Office Name: Greater Development LLC
Office Phone: (313) 209-2900
Listing Agent: Brady Williams
Interior Features
Interior Information:
Basement: Yes
Bedroom and Bathroom Information:
Full Bathrooms: 20
Exterior Features
Exterior Information:
Private Pool: No
Lot Features
Lot Information:
Lot Size: 0.80 Acres
Utilities
Utilities Information:
Heating: Natural Gas, Forced Air, Hot Water, Separate Meters
School Info
Assigned Schools Information:
Royal Oak Middle School, Public District Grades 6-8
Northwood Elementary School, Public District Grades KG-5
Other
Directions Information:
Directions: Royal Oak
Price Information
Listing Price Info
Price Summary:
List Price: $4,450,000
Price Per SqFt: $160/SqFt
Tax Information:
Annual Amount: $21,835
Tax Year: 2020
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Housing Market Comparison
See how this home compares to others in Royal Oak, MI.
This property is $4.1M more than the Median Sold Price and $117/SqFt less than other homes in Royal Oak, MI.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: Realcomp II Ltd
MLS Number: #20240081443
Listing Office:
Office Name: Greater Development LLC
Office Phone: (313) 209-2900
Listing Agent: Brady Williams
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
7
/10
Northwood Elementary School
926 W 12 Mile Rd
Distance between this listing and this school0.95 miles
Public District Grades KG-5
Middle School
5
/10
Royal Oak Middle School
709 N Washington Ave
Distance between this listing and this school0.20 miles
Public District Grades 6-8
Assigned Schools
7
/10
Northwood Elementary School
926 W 12 Mile Rd
Distance between this listing and this school0.95 miles
Public District Grades KG-5
Nearby Schools
6
/10
Keller Elementary School
1505 N Campbell Rd
Distance between this listing and this school1.31 miles
Public District Grades KG-5
7
/10
Rogers Elementary School
2265 Hamilton Ave
Distance between this listing and this school1.50 miles
Public District Grades KG-5
Assigned Schools
5
/10
Royal Oak Middle School
709 N Washington Ave
Distance between this listing and this school0.20 miles
Public District Grades 6-8
Nearby Schools
6
/10
Anderson Middle School
3205 Catalpa Dr
Distance between this listing and this school2.21 miles
Public District Grades 6-8
2
/10
Wilkinson Middle School
26524 John R Rd
Distance between this listing and this school2.27 miles
Public District Grades 6-8
Nearby Schools
2
/10
Churchill Community Education Center
707 Girard Ave
Distance between this listing and this school1.68 miles
Public District Grades 9-12
8
/10
Berkley High School
2325 Catalpa Dr
Distance between this listing and this school1.70 miles
Public District Grades 9-12
6
/10
Madison Virtual Academy
26524 John R Rd
Distance between this listing and this school2.27 miles
The neighbors living near this home have an average income of $61,680. Residents of Royal Oak, MI typically earn between $35k-100k each year. Most families are single, no kids. The most common level of education of people living in this area is post secondary degree.
All data provided by Home Junction and Claritas
Living In Royal Oak, MI
Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.
What type of housing is available in Royal Oak, MI?
Royal Oak's housing market is diverse, offering a mix of single-family homes, apartments, and townhouses. The architectural styles in the area range from charming bungalows and classic colonials to contemporary new constructions. Single-family homes are the most prevalent, providing a suburban feel within a city setting. The homeownership rate in Royal Oak is robust, with a significant portion of residents owning their homes, while the remainder of the population enjoys the flexibility of renting.
Is Royal Oak, MI a good place to live?
Royal Oak prides itself on a vibrant community spirit and a lively downtown area. The city is celebrated for its array of festivals, including the annual Arts, Beats and Eats Festival, which showcases the community's commitment to culture and entertainment. The neighborhood's character is further defined by its eclectic mix of shops, restaurants, and entertainment venues, which contribute to its reputation as a desirable place to live.
Are things conveniently located in Royal Oak, MI?
The community is served by a well-rounded selection of services, including public and private schools that cater to a range of educational needs. Healthcare is accessible through local clinics and nearby hospitals that offer a variety of medical services. Royal Oak's public library system is active, providing resources and programming for residents of all ages. Retail and dining options reflect the local culture, with a blend of independent boutiques and eateries alongside well-known chains.
What does the transportation in Royal Oak, MI look like?
Transportation options in Royal Oak include a network of roads and highways that connect residents to the greater Oakland area and beyond. Public transit is available, with bus services facilitating local and regional travel. The city is also bike-friendly, with several paths and lanes designated for cyclists. While specific ride-share services are operational in the area, the city's walkable downtown core is particularly appealing to those who prefer to navigate on foot.
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This home is located at 314 Oakland Ave in Royal Oak, MI and zip code 48067. This 27,732 square foot home, which was built in 1963, sits on a 0.80 acre lot. Features: 20 bathrooms. It has been listed on Rocket Homes since October 28, 2024 and is currently priced at $4,450,000.
Over 25 listings were sold over their listed price in October 2024 in Royal Oak, MI. In the same period over 39 listings were sold below the listed price and 13 listings were sold for the listed price. The number of homes for sale in Royal Oak, MI increased by 11.3% between September 2024 and October 2024. In October 2024 median list price was $345,000 and the average listing age was 18 days.
From Rocket Homes Real Estate and based on county public records data.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. 
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