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Tru Living Group LLC

infomi@trulivingroup.com +1(734) 746-5001

$ 2,330,000

Est. payment -/mo

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Active

1163 Chestnut ST Pontiac, MI 48342

5 Sqft Lot

UPDATED:

Key Details

Property Type Vacant Land

Sub Type UnimprovedLand

Listing Status Active

Purchase Type For Sale

MLS Listing ID 20251035265

Lot Size 5 Sqft

Property Sub-Type UnimprovedLand

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!

Location

State MI

County Oakland

Area Area02142Pontiac

Exterior

Community Features Sidewalks

View Y/N No

Garage false

Building

Sewer PublicSewer, SewerAtStreet

Water Public, WateratStreet

Schools

School District Pontiac

Others

Senior Community false

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition ShortSaleNo, Standard

Listed by Nahed Yousif of Brookstone, Realtors LLC

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