Marshall Place

Sold | $3,450,000

Ferndale, MI | Units: 30 | Price Per Unit: $115,000 | Avg Sq Ft: 872 | GRM: 8.42 | DSC: 1.35 | Year 1 ROI: 6.45% | Listing Agent: Greg Coulter

Location

Executive Summary

Marshall Place Apartments is a well-maintained, quiet, multifamily community located on the south side of Marshall Street, two blocks west of Woodward. It is walking distance to the downtown nightlife, with great bars and restaurants. This two building complex was built in 1966 and has a combined 30 units. The property offers a diversified and extremely competitive unit mix comprised of 17 one-bedroom units with approximately 804 sq.ft. of living space, and 13 two-bedroom units with approximately 960 sq.ft. of living space.