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$275,000
Est. payment /mo
3 Baths
1,416 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,416 sqft
Price per Sqft $194
Subdivision Mi
MLS Listing ID 60920549
Style 2 Story
Full Baths 3
Year Built 1937
Annual Tax Amount $10,213
Lot Size 7,840 Sqft
Acres 0.18
Lot Dimensions 60X131.5
Property Sub-Type Multi-Family
Property Description
Income generating Ferndale duplex within walking distance to downtown! This is a perfect opportunity to live in one unit while renting out the other, or lease out both units for maximum income generating potential. Currently rental certified through the city until 7/3/26. Units are separately metered for gas and electric, with one meter for water that is prorated 75%/25% between lower and upper units. Tenants pay all utilities. Upstairs unit is currently vacant, but was recently rented out at $1,100/month. Lower unit has had the same tenant for around 30 years, currently paying $1600/month plus $25/month for cat rent with existing lease in place until January 2028, with rent increase built in to current agreement to $1650/month plus cat fee in February 2026 and to $1700/month plus cat fee in February 2027. Lower unit has full access to the backyard, driveway, basement, and garage.
Location
State MI
County Oakland
Area Ferndale (63258)
Zoning Residential
Rooms
Basement Block
Interior
Heating Forced Air
Cooling Window Unit(s)
Fireplace No
Exterior
Exterior Feature Vinyl Siding
Building
Story 2 Story
Foundation Basement
Water Public Water
Structure Type Vinyl Siding
Schools
School District Ferndale City School District
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional,FHA
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Listed by Brookstone, Realtors LLC