1163 Chestnut Street, Pontiac, MI 48342

Property Description

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!

Listing Status:

Active

Date Added:

September 15, 2025 at 05:00AM

Listing Office:

Brookstone, Realtors LLC : 248-963-0505

Listing Agent:

Nahed Yousif : 734-444-6868

MLS ID:

60936859

Location

• Road/Access: Paved
• Originating MLS: MiRealSource
• School District: Pontiac City School District
• County: Oakland

Lot

• Zoning: T3NR10ESEC 22 PART OF NE 1/4 BEG AT PT DIST N 88-38-00 E 150 FT FROM CENTER OF SECTH N 01-26-00 W 41.77 FTTH N 50-23-00 E 460.56 FTTH S 39-37-00 E 140 FTTH N 50-22-57 E 292.92 FTTH N 88-29-24 E 80.11 FTTH S 01-30-36 E 26.29 FTTH N 8 8-29-24 E 134.50 FTTH S 01-30-36 E 372.54 FTTH S 88-38-00 W 893.95 FT TO BEG 5.58 A 2-26-09 FR 008ALSO 256-076 TO 081 INCL

Utilities

• Water: PublicPublic Water at Street
• Sewer: Public At Street

Financial

• Source: MiRealSource

This listing courtesy of Nahed Yousif, Brookstone, Realtors LLC