UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Rent
Square Footage 1,834 sqft
Subdivision Loucks Div
MLS Listing ID 20251056781
Style Triplex
Full Baths 3
Year Built 1930
Lot Size 8,276 Sqft
Acres 0.19
Property Sub-Type MultiFamily
Property Description
Introducing a rare investment opportunity in the vibrant heart of Downtown Oxford. This fully occupied triplex offers strong income, excellent tenant history, and significant value-add potential—all within walking distance to restaurants, shops, grocery stores, and the weekend trolley to Lake Orion.
The property features three separate-entrance units: two spacious two-bedroom, one-bath units and one newly remodeled studio with a large kitchen, new flooring, and fresh paint. One of the two-bedroom units includes an enclosed front porch, adding charm and additional living space, while the upper two-bedroom unit offers an updated bathroom and new flooring. All three units are in good condition, and each has its own furnace and hot water heater, and new gutters. All appliances are included, and the seller owns all mechanicals.
The property also includes a large basement with designated storage for each unit and a shared laundry area. The basement formerly housed a fourth legal unit, and the property is zoned to allow up to four units, offering the possibility of reinstating the fourth unit (buyer to verify). The detached garage has a newer roof, new gutters, and fresh gravel in the driveway, and it is currently used by a tenant but could serve as additional rental income or be explored for ADU potential with proper city approval.
Rents are currently $1,100 for each two-bedroom unit and $825 for the studio, and all utilities are included in the rent. There is immediate upside through raising rents to market rates or by splitting utilities. Consumers Energy just installed 3 separate gas meters, already paid for by the seller.
Seller is open to flexible land contract terms and willing to structure the financing to meet buyer needs. With its strong income, walkable location, and multiple avenues for future expansion, this property
Location
State MI
County Oakland
Area Area02041Oxfordtwp
Rooms
Basement Full, Unfinished
Interior
Heating Forced Air, Natural Gas
Fireplace No
Exterior
Parking Features Garage, OnStreet, SharedDriveway
Fence Back Yard, Fenced
Pool None
Utilities Available AboveGroundUtilities
View Y/N No
Roof Type Asphalt
Garage true
Building
Foundation Basement, Block
Sewer Public Sewer
Water Public
New Construction No
Schools
High Schools Oxford
School District Oxford
Others
Senior Community false
Acceptable Financing Cash, Contract, Conventional, OwnerMayCarry, Trade1031Exchange
Listing Terms Cash, Contract, Conventional, OwnerMayCarry, Trade1031Exchange
Special Listing Condition ShortSaleNo, Standard
Pets Allowed Yes
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