Location

EXECUTIVE SUMARY:

This charming, downtown Ferndale apartment building contains 9 one-bedroom and one-bath apartment homes, each measuring 550 square feet. Withington Apartments were built in 1927, with an ornamental brick façade that gives the building its unique character. The building has been well maintained over the years.

Withington Apartments are operating at 100% physical occupancy and for many years has maintained this level of performance. Perhaps even more impressive than this asset’s occupancy is the improved rents ownership is achieving on renewals and new leases. The property’s rents remain significantly below market.