$1,200,000
$1,200,000
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575 E TROY Street Ferndale, MI 48220 2841
8 Baths
9,194 SqFt
Key Details
Sold Price $1,200,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 9,194 sqft
Price per Sqft $130
Subdivision Mi
MLS Listing ID 60396233
Sold Date 07/22/25
Full Baths 8
Year Built 1972
Annual Tax Amount $13,563
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 100 x 10890
Property Sub-Type Multi-Family
Property Description
The Troy Street Apartments are located in Ferndale, Michigan conveniently off of Woodward and Troy Street. The property consists of 8 apartment units which are 100% occupied grossing over $8,365 per month in rent. These are loft style apartments consisting of 5 one bedroom one bath, and 3 two bedroom one bath units. The property is located on the heart of Ferndale, walkable to many popular restaurants and bars. Over 500 units of new construction multifamily housing have been going up within a 2 mile radius of the property at an average rent of $1,500 per unit which as placed an upward movement on existing rents.
Location
State MI
County Oakland
Area Ferndale (63258)
Zoning Multi-Family
Rooms
Basement Block
Interior
Heating Baseboard, Electric Heat
Fireplace No
Exterior
Exterior Feature Vinyl Siding
Building
Foundation Basement
Water Public Water
Structure Type Vinyl Siding
Schools
School District Ferndale City School District
Others
Ownership Private
Assessment Amount $1,584
Energy Description Electric
Acceptable Financing Cash
Listing Terms Cash
Financing Cash,Conventional
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Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Bought with LPS