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Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

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538 Laprairie St , Ferndale, MI 48220
$1,000,000
Est. Payment: $2,222.22/mo
0 Bed
2 Bath
0 Sqft
Status: Active | Days on site: 16
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House Description

Truly, a generational opportunity. This package of three 2-family homes located in the very desirable Detroit suburb of FERNDALE Michigan is special in many ways.With the 3 built lots in a row, & the extraordinary depth of 254 feet makes this an incredibly attractive land package.The story starts in the center with the original craftsman style bungalow 2-family home featuring two bedrooms on the first floor, & a spacious one bedroom upper unit, there is a full basement with separate laundry for each unit, private entries, and exits for all above grade entrances.From 1953 to 1955 the home on Laprairie gained a sibling on each side. Never wanting to mess with success, the original owner built both new properties using the same floorplan as their existing 2-family. Improving upon the existing, red brick was chosen for exteriors, garages with separate stalls and the trio was complete.Subsequent ownership through three generations (I have personally worked with all three generations) has provided a roadmap of consistent maintenance, capital improvements, long-term rental, history, and pride of ownership.Recent years have meant some newer furnaces (5), air conditioners (6), kitchens (3), bathrooms (4), wood floors (3), windows (all), appliances and decor.If the idea of a turnkey investment that has future potential beyond, what’s already there this might be the package that you’re looking for. These three are only being sold as a package. Only 552 Laprairie (Lower) and its basement may be shown prior to an accepted offer. Please do not disturb the other tenants. Showings of the other units can take place only upon receipt of an accepted offer.

Highlights

Listed by Keith Weber , 248-561-2708 RE/MAX First , 248-375-4000.

Property Type

Multi-Family

Lot/Acreage
0.22

Year Built

1955

County

Oakland

Neighborhood

Ferndale City

School District

Ferndale

Listing ID

20261069139

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:2
  • Full Bathrooms:
Air Cond:Central Air
Fireplaces:
Water:Public

Exterior Features

Lot:Sidewalk
Principal Interest
$2,222
Taxes
$446

Home Price

$1,000,000

Loan Details

30 yrs
%

Down Payment

20%
$200,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$2,222.22

Principal

Taxes

Principal Taxes HOA Total
Monthly $2,222.22 $445.79 $0.00 $2,668.01
Yearly $26,666.67 $5,349.49 $0.00 $32,016.16
Total $800,000.00 $160,484.70 $0.00 $960,484.70

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Ferndale, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.