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$ 330,000
Est. payment /mo
New
217 E Drayton ST Ferndale City, MI 48220
1,306 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
MLS Listing ID 81026038927
Year Built 1925
Lot Size 1,306 Sqft
Acres 0.03
Property Sub-Type MultiFamily
Property Description
TURN-KEY INVESTMENT OPPORTUNITY IN FERNDALE! This well-maintained duplex offers an excellent opportunity for investors and owner-occupants. The updated lower unit is vacant and ready for a new tenant (most recently rented for $1,700/month) or immediate owner occupancy. The upper unit is tenant-occupied with an active lease at $1,185/month, providing immediate rental income. The current property manager is available to continue managing the property for the new owner. Major capital improvements were completed in 2024, including a new roof, furnace, and hot water heater. The property has undergone regular preventative maintenance throughout ownership. Additional features include a spacious 2.5-car detached garage and a dry basement with lockable storage for each unit. Located just half a mile from downtown Ferndale with easy access to downtown Royal Oak and major highways, this low-maintenance property offers flexibility and long-term value in a desirable location. Buyer to verify allLower unit is vacant. Upper unit is tenant-occupied with an active lease paying $1185/month. Tenant documents attached.
Location
State MI
County Oakland
Area Area02258Ferndale
Interior
Heating Forced Air, Natural Gas
Fireplace No
Laundry InBasement
Exterior
Parking Features Concrete, Garage
Utilities Available ElectricityConnected, NaturalGasConnected
View Y/N No
Building
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Ferndale
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Keith Jourdan of Preferred, Realtors Ltd