38272 Fairway $1,215,000

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    38272 Fairway Clinton Township, MI 48038

    Sold
    SOLD 12/9/2019

    $1,215,000

    • 20,000 sq. ft.
    • Commercial Sale
    • MLS# 31389077
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    Property Details

    Don't let this Investment Opportunity get away! This is being sold as an Investment Package Deal consisting of 23 one bedroom / one bath condos at Fern Hill Manor Condominiums. Next door to the Fern Hill Golf Course! All 23 units are currently leased & tenant occupied. Most of the 23 units have been updated and include: stove, refrigerator, built-in dishwasher & disposal. HOA covers water, cooking gas, grass, snow & exterior maintenance. Tenants pay for heat/gas, electric/central air & renters insurance. (Gross Rents $182,040.00 / Total Expenses $82,345.00 / NOI $99,695.00) See attached Exhibit A for Long Legal Description & all 23 parcel #'s and addresses & unit #'s.

    • General Features
      • Ownership Private
      • County Macomb
      • Area Municipality 50011
      • Acreage 0
      • Waterfront Y/N No
      • Subdivision Fern Hill Manor Condo
      • Zoning Residential
      • Year Built 1972
      • Originating MLS MI Real Source
    • Building Features
      • Fuel Type Natural Gas
      • Heating System Forced Air
      • Cooling System Ceiling Fan(s), Central A/C
      • Exterior Construction Brick, Vinyl Siding
      • Foundation Type Slab
    • Property Features
      • Water Public Water
      • Sewer Septic Public Sanitary
      • Roads City/County, Paved Street
      • Parking Off Street,Parking Lot
      • Lot Size 0x0

    Neighborhood

    48038 (Clinton Township) Demographics

    44 Median Age
    3,856 Population Density (per sq. mile)
    38% College Educated
    $53,707 Estimated Median Income
    12,338 Estimated Total Home Owners
    7,179 Estimated Total Renters
    63% / 37% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    42,287 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $202,500 Median Sales Price
    40 Homes Sold
    196 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- New in Database Source
        12/9/2019 3:00:00 AM Sold Source New Value: $1,215,000
        Information is provided in part by the IDX program of the MI Realsource Michigan Multiple Listing Service. All information provided is deemed reliable but is not guaranteed and should be independently verified.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.