695 Livernois StFerndale, MI 48220

  • Residential income properties
  • 3,986 SF
For Sale
$875,000 View listing

Property Details for 695 Livernois St

Year built
1942
Property size (Sq ft)
3,986 SF
Property type
Residential income properties
Property subtype
Multifamily properties

Description

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.

695 Livernois St, Ferndale, Michigan

Location Insight

City
Ferndale
County
Oakland
State
Michigan
Latitude
42.452
Longitude
-83.143

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