$1,200,000
SOLD JUL 22, 2025

575 E Troy St Ferndale, MI 48220

6 Beds
8 Baths
9,194 Sq Ft
10,890 Sq Ft Lot

Recently Sold

$131 Per Sq Ft

27 Days on Market

Highlights

  • 0.25 Acre Lot
  • Colonial Architecture
  • Baseboard Heating

About This Home

As of July 2025

The Troy Street Apartments are located in Ferndale, Michigan conveniently off of Woodward and Troy Street. The property consists of 8 apartment units which are 100% occupied grossing over $8,365 per month in rent. These are loft style apartments consisting of 5 one bedroom one bath, and 3 two bedroom one bath units.
The property is located on the heart of Ferndale, walkable to many popular restaurants and bars. Over 500 units of new construction multifamily housing have been going up within a 2 mile radius of the property at an average rent of $1,500 per unit which as placed an upward movement on existing rents.

Last Agent to Sell the Property

Brady Williams

Greater Development LLC License #6501413257 Listed on: 05/21/2025

Last Buyer's Agent

Brady Williams

Greater Development LLC License #6501413257 Listed on: 05/21/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1972

Lot Details

  • 0.25 Acre Lot
  • Lot Dimensions are 100 x 10890

Parking

  • 1 Parking Space

Home Design

  • Colonial Architecture
  • Block Foundation
  • Vinyl Construction Material

Interior Spaces

  • 8 Full Bathrooms
  • 9,194 Sq Ft Home
  • Multi-Level Property
  • Unfinished Basement

Utilities

  • Back Up Electric Heat Pump System
  • Baseboard Heating

Listing and Financial Details

  • Assessor Parcel Number 2534226013

Community Details

Overview

  • 8 Units
  • The Little Farms Sub Subdivision

Pet Policy

  • Call for details about the types of pets allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,563

Year Built

Built in 1972

Lot Details

0.25 Acres

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Colonial
  • Architecture Level: 4-10 Story
  • Assessment: 1584.00
  • Year Built: 1972
  • State Equalized Value: 275490.0000
  • Pets Allowed: Call
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 8.00
  • Full Bathrooms: 8
  • Basement: Yes
  • Basement Type: Unfinished
  • Total Sq Ft: 9194

Exterior Features

  • Foundation Details: Basement
  • Construction Materials: Vinyl
  • Foundation Materials: Block
  • Road Frontage Type: Paved

Garage/Parking

  • Total Parking Spaces: 1

Utilities

  • Heating Fuel: Electric
  • Heating: Baseboard
  • Sewer: Sewer (Sewer-Sanitary)
  • Water Source: Public (Municipal)

Fee Information

  • Operating Expense: 34380.00

Lot Info

  • Lot Size Area: 0.25
  • Lot Dimensions: 100 x 10890
  • Parcel Number: 2534226013
  • Zoning: Multi-Family

Rental Info

  • Monthly Rental Income: 8365

Tax Info

  • Tax Amount Summer: 13260.0000
  • Tax Amount Winter: 303.0000
  • Total Tax: 13563.0000
  • Taxable Value: 175890.0000

Multi Family

  • Gross Scheduled Income: 100380.00
  • Number Of Units Total: 8
  • Number of Loft Units: 5

MLS Schools

  • School District: Ferndale
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/22/2025 07/22/25 Sold $1,200,000 0.0% $131 / Sq Ft
05/21/2025 05/21/25 For Sale $1,200,000 0.0% $131 / Sq Ft
03/05/2025 03/05/25 Off Market $1,700 -- --
01/30/2025 01/30/25 Price Changed $1,700 +81.8% $2 / Sq Ft
11/19/2024 11/19/24 Price Changed $935 -45.0% $1 / Sq Ft
11/18/2024 11/18/24 For Rent $1,700 -- --
Source: Realcomp

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $13,632 $289,910 $0 $0
2024 $13,260 $275,490 $0 $0
2023 $12,603 $244,610 $0 $0
2022 $12,451 $231,240 $0 $0
2021 $12,412 $209,950 $0 $0
2020 $11,899 $200,390 $0 $0
2019 $11,977 $188,340 $0 $0
2017 $11,765 $157,620 $0 $0
2015 -- $144,800 $0 $0
2014 -- $139,080 $0 $0
2011 -- $157,390 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Realcomp

MLS Number: 20250037682

Realcomp
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