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$ 330,000
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217 E Drayton Street Ferndale, MI 48220-3743
1,306 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Mi
MLS Listing ID 70548600
Year Built 1925
Tax Year 2025
Lot Size 1,306 Sqft
Acres 0.03
Property Sub-Type Multi-Family
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 all
Location
State MI
County Oakland
Area Ferndale (63258)
Rooms
Basement Other
Interior
Heating Forced Air
Exterior
Exterior Feature Aluminum
Parking Features Additional Garage(s)
Building
Foundation Basement
Structure Type Aluminum
Schools
School District Ferndale City School District
Others
Energy Description Natural Gas
Financing Cash,Conventional
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Listed by Preferred, Realtors Ltd