$2,330,000 for Sale
1163 chestnut street, pontiac, MI 48342
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!
General Information
Sale Price: $2,330,000
Price/SqFt:
Status: Active
MLS#: 20251035265
City: pontiac
Post Office: pontiac
Schools: pontiac
County: Oakland
Acres: 5.58
Lot Dimensions: Irregular
Size:
Acreage: 5.58 est.
Year Built:
Property Type:
Style:
Tax, Fees & Legal
Est. Summer Taxes: $717
Est. Winter Taxes: $28
Legal Description: T3N, R10E, SEC 22 PART OF NE 1/4 BEG AT PT DIST N 88-38-00 E 150 FT FROM CENTER OF SEC, TH N 01-26-00 W 41.77 FT, TH N 50-23-00 E 460.56 FT, TH S 39-37-00 E 140 FT, TH N 50-22-57 E 292.92 FT, TH N 88-29-24 E 80.11 FT, TH S 01-30-36 E 26.29 FT, TH N 8 8-29-24 E 134.50 FT, TH S 01-30-36 E 372.54 FT, TH S 88-38-00 W 893.95 FT TO BEG 5.58 A 2-26-09 FR 008, ALSO 256-076 TO 081 INCL
IDX provided courtesy of Realcomp II Ltd. via Tremaine Real Estate and Realcomp II Ltd, ©2025 Realcomp II Ltd. Shareholders
Listing By: Nahed Yousif of Brookstone, Realtors LLC, Phone: (248) 963-0505
