20
See all 20 photos
$330,000
Est. payment /mo
1 Bath
1,472 Sqft Lot
New
217 E Drayton Street Ferndale, MI 48220
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Key Details
Property Type Multi-Family
Sub Type 2 to 4 Units
Listing Status Active
Purchase Type For Sale
Municipality Ferndale City
MLS Listing ID 26038927
Year Built 1925
Tax Year 2025
Lot Size 1,472 Sqft
Acres 0.03
Property Sub-Type 2 to 4 Units
Source Michigan Regional Information Center (MichRIC)
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 Lower unit is vacant. Upper unit is tenant-occupied with an active lease paying $1185/month. Tenant documents attached. Lower unit is vacant. Upper unit is tenant-occupied with an active lease paying $1185/month. Tenant documents attached.
Location
State MI
County Oakland
Rooms
Basement Other
Interior
Heating Forced Air
Laundry In Basement
Exterior
Parking Features Concrete, Driveway
Utilities Available Natural Gas Connected, Electricity Connected
View Y/N No
Total Parking Spaces 2
Building
Structure Type Aluminum Siding
New Construction No
Schools
School District Ferndale
Others
Tax ID 25-27-326-027
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Preferred, Realtors Ltd