NOT LISTED FOR SALE

590 E Lewiston Ave Ferndale, MI 48220

Ferndale Area
14 Beds
10 Baths
9,038 Sq Ft
0.3 Acre Lot

Sale Details

Date Sold: October 4, 2021

Last sale price $1,300,000 $144 Per Sq Ft

10 Days on Market

Highlights

  • 0.3 Acre Lot
  • Laundry Facilities
  • High Speed Internet
  • Forced Air Heating System

About This Home

As of October 2021

Call for offers due July 2nd. 10 unit apartment building in highly appreciating Ferndale! Sellers have proven value add through renovating 5 of the units to increase rent significantly. Still 5 units remaining which leave a lot of value for the buyer. Property is extremely clean and well maintained/managed. Management in place could be transferred to the buyer. Multiple offers received. Showings only allowed after accepted LOI or Purchase Agreement. Agent has ownership interest in the property.

Last Agent to Sell the Property

Tory Sheffer

Signature Sotheby's International Realty Bham License #6501386870 Listed on: 06/28/2021

Signature Sotheby's International Realty Bham

Last Buyer's Agent

Tory Sheffer

Signature Sotheby's International Realty Bham License #6501386870 Listed on: 06/28/2021

Signature Sotheby's International Realty Bham

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1957 | Remodeled in 2021

Lot Details

  • 13,068 Sq Ft Lot
  • Lot Dimensions are 100.00x131.00

Home Design

  • Brick Exterior Construction
  • Block Foundation

Interior Spaces

  • 10 Full Bathrooms
  • 9,038 Sq Ft Home
  • 2-Story Property
  • Basement Fills Entire Space Under The House

Parking

  • 10 Parking Spaces
  • Off-Site Parking

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Natural Gas Water Heater
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 2527455005

Community Details

Overview

  • 10 Units
  • Michelson Woods Sub Subdivision

Amenities

  • Laundry Facilities

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$16,528

Year Built

Built in 1957 | Remodeled in 2021

Lot Details

0.3 Acres

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Common Entry Building
  • Architecture Level: 2 Story
  • Year Built: 1957
  • State Equalized Value: 271270.0000
  • Year Renovated: 2021
  • Pets Allowed: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Interior Amenities: Cable Available, High Spd Internet Avail, Laundry Facility
  • Total Bathrooms: 10.00
  • Full Bathrooms: 10
  • Basement: Yes
  • Basement Type: Common
  • Total Sq Ft: 9038

Exterior Features

  • Foundation Details: Basement
  • Construction Materials: Brick
  • Foundation Materials: Block
  • Road Frontage Type: Paved, Pub. Sidewalk

Garage/Parking

  • MF Parking: Off Site
  • Total Parking Spaces: 10

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Wall Unit(s)
  • Heating: Forced Air
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Natural Gas
  • Water Source: Public (Municipal)
  • Laundry Facilities: Yes

Lot Info

  • Lot Size Area: 0.30
  • Lot Dimensions: 100.00X131.00
  • Parcel Number: 2527455005
  • Zoning: Multi-Family

Rental Info

  • Legal Rental Certified: Yes
  • Monthly Rental Income: 12800

Tax Info

  • Tax Amount Summer: 16142.0000
  • Tax Amount Winter: 386.0000
  • Total Tax: 16528.0000
  • Taxable Value: 208460.0000

Multi Family

  • Gross Scheduled Income: 160200.00
  • Number Of Units Total: 10

MLS Schools

  • School District: Ferndale

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 28, 2021
Closed on
Oct 1, 2021
Sold by
Bought by
Seller's Agent
Tory Sheffer
Signature Sotheby's International Realty Bham
Buyer's Agent
Tory Sheffer
Signature Sotheby's International Realty Bham
List Price
$1,300,000
Sold Price
$1,300,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,375,000
Interest Rate
0.028%
Mortgage Type
Construction

Purchase Details

Closed on
Oct 2, 2020
Sold by
Bought by

Purchase Details

Closed on
Oct 1, 2020
Sold by
Bought by

Purchase Details

Closed on
Sep 11, 1998
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- First American Title
-- Ata National Title Group
-- Ata National Title Group
-- Ata National Title Group
-- None Available
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $2,375,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
10/04/2021 10/04/21 Sold $1,300,000 0.0% $144 / Sq Ft
07/09/2021 07/09/21 Pending -- -- --
06/28/2021 06/28/21 For Sale $1,300,000 -- $144 / Sq Ft
Source: Realcomp

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $24,041 $338,060 $0 $0
2024 $23,848 $329,410 $0 $0
2023 $23,731 $329,410 $0 $0
2022 $23,491 $312,000 $0 $0
2021 $22,061 $283,400 $0 $0
2020 $16,142 $271,270 $0 $0
2019 $16,250 $251,630 $0 $0
2017 $15,962 $221,640 $0 $0
2015 -- $194,680 $0 $0
2014 -- $190,330 $0 $0
2011 -- $215,170 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Realcomp

MLS Number: 2210048156

Realcomp
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