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Z on Crooks 4401 S Crooks Rd 8 Unit Apartment Building $1,574,000 ($196,750/Unit) 6.05% Cap Rate Royal Oak, MI 48073
Executive Summary
Crooks Street Apartments is a fully stabilized, 8-unit apartment building located in the desirable community of Royal Oak, Michigan. The property features 8 units. Of the 8 units 7 of them are one bed one bath, and 1 is two bed one bath. The property has 8 off street dedicated parking spaces for tenants. The property is 100% occupied, generating a gross monthly income of over $10,600. Over the last few years, the Crooks Street Apartments have undergone an extensive transformation, with every unit receiving upgraded kitchens, bathrooms, flooring, and modern fixtures. These high-end renovations allow the property to command premium rents in the Royal Oak market while ensuring low operational costs and minimal deferred maintenance for ownership. With its strong occupancy, renovated units, and close proximity to Royal Oak and Birmingham, The Crooks Street Apartments offers a rare combination of stability and upside potential in a prime location
Property Facts
| Price | $1,574,000 | Apartment Style | Low-Rise |
| Price Per Unit | $196,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.42 AC |
| Cap Rate | 6.05% | Building Size | 4,256 SF |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 1.88/1,000 SF |
| Zoning | AI | ||
| Price | $1,574,000 |
| Price Per Unit | $196,750 |
| Sale Type | Investment |
| Cap Rate | 6.05% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 4,256 SF |
| No. Stories | 1 |
| Year Built | 1956 |
| Parking Ratio | 1.88/1,000 SF |
| Zoning | AI |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Stainless Steel Appliances
- Range
- Vinyl Flooring
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
| 2+1 | 1 | - | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 25-05-233-018 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $285,260 |
Property Taxes
Parcel Number
25-05-233-018
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$285,260
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Z on Crooks | 4401 S Crooks Rd
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