501 West 3rd Street

Beds
4,217 Sq. Ft.
$152 / Sq. Ft.
4,217
Sq. Ft.
$152
per Sq. Ft.

Description

Charming, hard to find four family investment property in Rochester. Enjoy a short walk to town where you will find a delightful blend of historic charm and modern vibrancy. Here, you'll find more than 350 shops to explore. Very unique, well maintained 4-unit complex with additional 3 car garage and separate laundry/out building that has development potential. All units have private entrances, are one bedroom/one bath and are spacious at 900 sq. ft.. Each unit offers a different floor plan and unique...Charming, hard to find four family investment property in Rochester. Enjoy a short walk to town where you will find a delightful blend of historic charm and modern vibrancy. Here, you'll find more than 350 shops to explore. Very unique, well maintained 4-unit complex with additional 3 car garage and separate laundry/out building that has development potential. All units have private entrances, are one bedroom/one bath and are spacious at 900 sq. ft.. Each unit offers a different floor plan and unique characteristics. The complex has many updates to include: newer HVAC systems, updated Pella windows, refinished hardwood floors, appliances, cabinets and full cement driveway. All units are currently occupied have an excellent rental history. Current rates are under market value and the new owner has an opportunity to increase ROI. Please do not approach the tenants. Finacial documents available in documents.
  1. Listed by Jeffery Alasina • Coldwell Banker Professionals Birm
    P: (248)-425-2979 C: (248)-425-2979 jeffery.alasina@cbpmichigan.com

Property Details for 501 West 3rd Street

Architectural Style
2 Story
Subdivision Name
SUPRVR'S PLAT NO 4 - VLG OF ROCH
Has Waterfront
No
Zoning Description
Multi-Family
LISTING CLOSED: 08/06/2024 12:00 AM

Property Details for 501 West 3rd Street

StatusClosed
MLS #60323921
Days on Market5
Taxes$12,167 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Multi Family
Year Built1945
Lot Size0.32 AC / 13,939 SF
CountyOakland County

Location

Listing Courtesy of Coldwell Banker Professionals Birm

Sold By LPS

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Building Information for 501 West 3rd Street

Stories2Residences4Year Built1945Building Size-Lot Size0.32 AC / 13,939 SF

Payment Calculator

$4,203 per month

30 year fixed, 6.36% Interest

Principal and Interest

$3,189

Property Taxes

$1,014

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 501 West 3rd Street

Summary
Location and General Information
  • Cross Street: South of University/west
  • Directions: South of University/west of Main Street
  • Latitude: 42.679002
  • Longitude: -83.138637
  • MLS Area Major: Rochester (63152)
Taxes and HOA
  • Parcel Number: 1515208010
  • Tax Annual Amount: $12,167.00
Property
Lot Information
  • Lot Size Acres: 0.32
  • Road Surface Type: Paved
Property and Assessments
  • Above Grade Finished Area: 4217.0
  • Building Area Total: 4217.0
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Year Built: 1945
Building Features
  • Construction Materials: Aluminum Siding
  • Total Stories: 2
Utilities
  • Sewer: Public Sewer
  • Utilities: Natural Gas Available
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Patio And Porch Features: Porch
Interior Features
  • Basement: Crawl Space
  • Has Basement: Yes
  • Full Bathrooms: 4
  • Total Bathrooms: 4
  • Cooling: Central Air
  • Has Cooling: Yes
  • Has Fireplace: No
  • Heating: Forced Air, Natural Gas
  • Has Heating: Yes
  • Laundry Features: Common Area
Multi Family
Multi Family Information
  • Number Of Units Total: 4
Income & Expenses
  • Net Operating Income: $35,911

Property History for 501 West 3rd Street

DateEvent & SourcePriceAppreciation
Aug 6, 2024

Sold (Public Record)

Public Record #1538838920

$640,000

+12.9% / yr

Aug 6, 2024

Sold

MiRealSource #60323921

$640,000
Jul 20, 2024

Contract Signed

MiRealSource #60323921

DateEvent & SourcePrice
08/06/2024

Sold (Public Record)

Public Record #1538838920

$640,000

+12.9% / yr

08/06/2024

Sold

MiRealSource #60323921

$640,000
07/20/2024

Contract Signed

MiRealSource #60323921

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 501 West 3rd Street

Taxable ValueLand-Additions-Total-
Tax Record2025$11,207 ($934 / month)
Home Facts
Beds4Baths4Total Finished SqFt4,217 SqFtAbove Grade Finished SqFt4,217 SqFtUnfinished Basement SqFt1,818 SqFtStories2Lot Size13,896 SqFtStyleSingle Family ResidenceYear Built1945Year Renovated2013ZoningRICountyOAKLANDAPN68-15-15-208-010

Schools near 501 West 3rd Street

This home is within Rochester Community School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 12
Public - 7 to 12
Public - 9 to 12
Rating
School
Distance
McGregor Elementary School
PublicPK to 5

West Middle School
Public6 to 12

Rochester High School
Public7 to 12

John M Schultz Educational Campus
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Coldwell Banker Professionals Birm

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