695 Livernois StFerndale, MI 48220

Property Details for 695 Livernois St

Year built

1942

Property size (Sq ft)

3,986 SF

Property type

Apartment buildings

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.

Location Insight

City

Ferndale

County

Oakland

State

Michigan

Latitude

42.452

Longitude

-83.143

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