392 E Cambourne Street Active 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 January 2028, with rent increase built in to current agreement to $1650/month plus cat fee in February 2026 and to $1700/month plus cat fee in February 2027. Lower unit has full access to the backyard, driveway, basement, and garage. in February 2027. 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