313-550-2541
345 W Marshall St, Ferndale, MI for Sale
Apartments - FOR SALE
1/12
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345 W Marshall St
Ferndale, MI 48220


HIGHLIGHTS

  • Completed in June 2024, this property provides an opportunity for long-term cash flow with low capital expenditures expected to be required.
  • With an occupancy rate of approximately 95%, Ferndale’s rental market benefits from its proximity to affluent suburbs such as Royal Oak and Birmingham
  • Located just 1/2 mile from downtown Ferndale
  • 15 minutes drive from - LCA, Detroit Mercy and Downtown Birmingham

OVERVIEW

This newly constructed 4-unit building, completed in June of 2024 is located just 1/2 mile from downtown Ferndale. Each 2-bedroom, 2-bathroom unit features luxury finishes, in-unit laundry and is independently metered for electric and gas with a dedicated basement storage unit. Average in-place rent is $2,196/ unit / month.

FOR SALE DETAILS

PRICE

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# OF UNITS

4

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ferndale Gateway Flats

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2024

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

RS

APN/PARCEL ID

25-34-180-006

ASK ABOUT THIS PROPERTY

Rick BraceBerkadia Real Estate AdvisorsMore Info
313-550-2541

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Rick BraceBerkadia Real Estate AdvisorsMore Info
313-550-2541

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.