695 Livernois StFerndale, MI 48220

For Sale
$875,000

Live/Work Opportunity, Downtown Ferndale

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional Class A, mixed-use apartment building presents a unique investment opportunity in the vibrant heart of Ferndale, Michigan. The property, built in 1942 and renovated in 2001, boasts 3 units across 2 stories, totaling 3,986 square feet. Each unit enjoys 4 parking spaces. The asking price is $875,000, representing a price per square foot of $219.52 and a price per unit of $291,666.67. The property's strong financial performance is reflected in its impressive Net Operating Income (NOI) of $87,705, yielding a 10.02% capitalization rate. Located at 695 Livernois St, Ferndale, MI 48220 (APN 24-25-33-435-027), this property is zoned Mixed Use 2, providing significant flexibility for diverse commercial ventures. The building's prime location in Downtown Ferndale offers unparalleled access to local amenities and a thriving community. This is an ideal opportunity for owner-users seeking a live/work arrangement, or investors looking for a high-yield property with significant upside potential. Land contract terms are available. Highest and best offers are due September 15, 2024, at 5 PM.

Highlights

  • $875,000 asking price for this 3-unit apartment building in Ferndale, MI.
  • Mixed-use zoning allows for diverse commercial uses.
  • Live/work opportunity ideal for house hacking or Airbnb.
  • Located in Downtown Ferndale.

Property Details for 695 Livernois St

Property type
Multifamily properties, Apartment buildings
Square Feet
3,986 SF
Class
A
Year Built/Renovated
1942/1
Buildings
1
Stories
2
Units
3

Location Insight

City
Ferndale
County
Oakland
State
Michigan
Latitude
42.4519757
Longitude
-83.1429792
695 Livernois St, Ferndale, Michigan

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695 Livernois St
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