1163 Chestnut St Unit 9 Pontiac, MI 48342
Estimated payment $12,367/month
About This Lot
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!
Property Details
Property Type
- Land
Est. Annual Taxes
Lot Details
- 5.58 Acre Lot
- Property is zoned Multi-Family
Utilities
- Sewer in Street
Listing and Financial Details
- Assessor Parcel Number 1422253009
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,381 | $75,590 | $0 | $0 |
| 2023 | $1,316 | $66,930 | $0 | $0 |
| 2022 | $1,980 | $57,380 | $0 | $0 |
| 2021 | $2,126 | $52,600 | $0 | $0 |
| 2020 | $1,196 | $49,550 | $0 | $0 |
| 2019 | $1,231 | $43,780 | $0 | $0 |
| 2018 | $1,210 | $42,650 | $0 | $0 |
| 2017 | $1,140 | $42,310 | $0 | $0 |
| 2016 | $1,132 | $39,470 | $0 | $0 |
| 2015 | -- | $35,330 | $0 | $0 |
| 2014 | -- | $29,970 | $0 | $0 |
| 2011 | -- | $38,500 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/15/2025 09/15/25 | For Sale | $2,330,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $50,000 | Attorneys Title Agency Llc | |
| Sheriffs Deed | $128,301 | None Available | |
| Corporate Deed | $158,895 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $126,800 | Unknown |
Source: Realcomp
MLS Number: 20251035265
APN: 14-22-256-009
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Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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