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Triplex - Oxford, MI
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...
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 is in the process of installing separate gas meters, already paid for by the seller, and electric separation is planned for this spring.
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 is an exceptional opportunity for both new and experienced investors.
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