392 E Cambourne Street new Save Request In-Person Tour Request Virtual Tour
Ferndale,MI 48220
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Ferndale City
MLS Listing ID 20251018932
Year Built 1937
Annual Tax Amount $10,213
Lot Size 7,840 Sqft
Property Description
Income generating Ferndale duplex within walking distance to downtown! This is a perfect opportunity to live in one unit while renting out the other, or lease out both units for maximum income generating potential. Currently rental certified through the city until 7/3/26. Units are separately metered for gas and electric, with one meter for water that is prorated 75%/25% between lower and upper units. Tenants pay all utilities. Upstairs unit is currently vacant, but was recently rented out at $1,100/month. Lower unit has had the same tenant for around 30 years, currently paying $1600/month plus $25/month for cat rent with existing lease in place until March 2027, with rent increase built in to current agreement to $1650/month plus cat fee in March 2026. Lower unit has full access to the backyard, driveway, basement, and garage.
Location
State MI
County Oakland
Area Oakland County - 70
Zoning Residential
Interior
Heating Forced Air
Cooling Window Unit(s)
Exterior
Amenities Available Pets Allowed
View Y/N No
Building
Sewer Public
Water Public
Structure Type Vinyl Siding
Schools
School District Ferndale
Others
Acceptable Financing Cash,Conventional,FHA
Listing Terms Cash,Conventional,FHA