This offering presents a rare opportunity to acquire a three-unit residential income-producing asset on approximately 0.264 acres in the downtown Farmington corridor adjacent to commercial and office uses and evolving residential density. The property offers in-place income with significant long-term upside through redevelopment and assemblage potential, along with flexibility for a future parcel split, within one of Metro Detroit's most desirable suburban downtown districts. Located just west of downtown Farmington along Grand River Avenue, the property consists of one 1,769 square foot, two-story single-family rental home at 33614 Grand River Ave and one 1,183 square foot, single-story duplex situated directly behind at 33615/17 Adams Street. Both are the on the same parcel. 33614 features new carpet, hard wood floors, updated kitchen and bath, and basement foundation waterproofing. 33615/17 features updated bathrooms and kitchens, new hot water heater, and new roof (2021). Please do not disturb tenants.
Courtesy: Forward Commercial Group
Emil Cherkasov
This offering presents a rare opportunity to acquire a three-unit residential income-producing asset on approximately 0.264 acres in the downtown Farmington corridor adjacent to commercial and office uses and evolving residential density. The property offers in-place income with significant long-term upside through redevelopment and assemblage potential, along with flexibility for a future parcel split, within one of Metro Detroit's most desirable suburban downtown districts. Located just west of downtown Farmington along Grand River Avenue, the property consists of one 1,769 square foot, two-story single-family rental home at 33614 Grand River Ave and one 1,183 square foot, single-story duplex situated directly behind at 33615/17 Adams Street. Both are the on the same parcel. 33614 features new carpet, hard wood floors, updated kitchen and bath, and basement foundation waterproofing. 33615/17 features updated bathrooms and kitchens, new hot water heater, and new roof (2021). Please do not disturb tenants.
Farmington is located in Michigan. Farmington, Michigan has a population of 11,481. Farmington is more family-centric than the surrounding county with 35.73% of the households containing married families with children. The county average for households married with children is 32.55%.
The median household income in Farmington, Michigan is $84,558. The median household income for the surrounding county is $86,275 compared to the national median of $69,021. The median age of people living in Farmington is 38.7 years.
The average high temperature in July is 83.2 degrees, with an average low temperature in January of 16.3 degrees. The average rainfall is approximately 32.7 inches per year, with 36.5 inches of snow per year.
