Tri-Unit Live-Work
695 Livernois Street Ferndale, MI 48220
695 Livernois Street, Ferndale, MI, 48220
$749,900
For Sale
$749,900
MULTI_FAMILY - Other - Ferndale, MI
Property Size3,186 SF
Lot Size0.10 Acres
Price / SF$235.37
Days on Market47
Property Features for 695 Livernois Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Commercial,Multi-Family,M
- Bedrooms
- 5
- Bathrooms
- 5
- Rooms
- Bedroom 2, Bathroom 2, Bedroom 5, Bathroom 4, Bathroom 5, Basement, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 1
- Pets allowed
- Yes
- Exterior features
- Private Entry
- Standard status
- Active
- APN
- 2533435027
- Size
- 3,186 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Description
- T1N, R11E, SEC 33 POAD SUB LOTS 55 & 56, ALSO 1/2 OF VAC ALLEY ADJ TO SAME
- Tax Annual Amount
- 7173
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1942
- Floors in Building
- 2
- Number of units
- 3
- Building materials
- Brick, Vinyl
- Roof type
- Asphalt
- Architectural style
- Other
Listing Agency
KW Metro
(248) 288-3500
423 S Washington Ave, Royal Oak, MI
Listed by
Alina Valentine
(248) 288-3500
Added: Jun 5 Updated: Jul 9 at 2:50 am Checked: Jul 21 at 12:06 am
MLS# 20261032761
Listing URL
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale tri-unit property combines residential living with commercial flexibility under its Commercial, Multi-Family, M zoning designation. The building includes three distinct units within a compact footprint, totaling 3,186 square feet on an approximately 0.10-acre lot. This mixed-use configuration is designed for buyers who want one asset with multiple ways to operate.
Located at 695 Livernois Street in Ferndale, Michigan 48220, the property is positioned as a straightforward live-work style option within Oakland County. The site is available for inspection and review, and the listing notes that a comprehensive marketing package is available upon request.
For an operator, investor, or owner-occupant, the practical value is the property’s ability to support a blended residential and commercial approach within a single structure. With three units in place, the building can align with strategies that seek multiple revenue streams or a live-and-operate arrangement, subject to review of zoning and any applicable approvals. Buyers are encouraged to verify details with the listing materials and during the due-diligence process, consistent with BATVAI.
Located at 695 Livernois Street in Ferndale, Michigan 48220, the property is positioned as a straightforward live-work style option within Oakland County. The site is available for inspection and review, and the listing notes that a comprehensive marketing package is available upon request.
For an operator, investor, or owner-occupant, the practical value is the property’s ability to support a blended residential and commercial approach within a single structure. With three units in place, the building can align with strategies that seek multiple revenue streams or a live-and-operate arrangement, subject to review of zoning and any applicable approvals. Buyers are encouraged to verify details with the listing materials and during the due-diligence process, consistent with BATVAI.
Key Highlights
- Tri‑unit mixed‑use property with mixed‑use zoning for live‑work possibilities
- Built in 1942 with brick and vinyl exterior materials
- Forced‑air heating with central air conditioning
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.1k | $19.80 |
| − Vacancy | −$2.8k | −$0.89 |
| EGI | $60.2k | $18.91 |
| − OpEx | −$18.1k | −$5.67 |
| NOI | $42.2k | $13.24 |
3,186 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$602.4K
$527.1K – $702.9K
NOI $42,171 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$558.3K
$488.5K – $651.3K
NOI $39,080 @ 7.0% cap · market cap 5.21%
Theoretical Best
Specialty Retail
$687.2K
$601.3K – $801.7K
NOI $48,104 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Tri-unit building zoned for commercial and multifamily use, offering a blended residential and income-oriented layout.
Where is this live-work space located?
The property is located at 695 Livernois Street Ferndale, MI.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Tri‑unit mixed‑use property with mixed‑use zoning for live‑work possibilities; Built in 1942 with brick and vinyl exterior materials; Forced‑air heating with central air conditioning
