Value Add Multi-Unit Asset located at 23527–23529 Woodward Ave, Ferndale, MI.
Mixed-use building with four (4) fully leased 1-bedroom apartments on the second floor.
2,000 sq. ft. of Retail space on the lower level is vacant. (2 separate 1,000 sq. ft. units.)
Financial breakdown
- Apartment 1 – $1,100/MTH – Expires 10/2026
- Apartment 2 – $1,100/ MTH – Expires 06/2026
- Apartment 3 – $1,300/ MTH – Expires 09/2026
- Apartment 4 – $1,300/ MTH – Expires 10/2026
- Total Gross Income $57,600/YR
- - Taxes – $14,529/YR
  - Utilities – $8,000/YR
  - Insurance – $6,200/YR
  - Total Net Income $28,871/YR
2 Value- add vacant storefronts offer upside rental income.

Value-Add Freestanding Apartments/ Retail Building

For Sale