• 21201 Woodward Ave - 21201 Woodward Ave, Ferndale, MI 48220

For Lease

Unit Ferndale Flats on Woodward

Available December 15, 2023
  • Available on
    December 15, 2023
  • Time on Market
    4 months
  • Last updated
    Dec 14, 2023
  • Space ID
    2152482
  • Presented By
    The Waller Group, LLC
    Logan Waller
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Property Details

- The property includes 1 leased retail space at $3k/month through 2026 and a billboard currently leased for $10k/year. - Community amenities include laundry facilities on-site, secured/ gated surface parking, electric car charging station, and bike racks. - New ownership, based upon area rent comps, can raise rents up to $90 / unit. - Rent growth and median income is well above surrounding cities, while crime rate and vacancy rate are well below surrounding areas. - Subject property has an assumable loan with a current balance of $2,307,000 at a 5.1% interest rate. - The Ferndale submarket experienced 6.2% 12-month rent growth

  • Property Type
    Multi-Family
  • Submarket
  • Year Built
    1961
  • Total Building Size
    18,495RSF
  • Total Available
    18,495RSF
  • Last updated
    Dec 15, 2023
  • Property ID
    2230766

Landlord's Leasing Representatives

  • <B>Primary Contact</B><BR>Wade Sivess
     
  • Logan Waller
    The Waller Group, LLC
     
  • Conor O'Brien