Institutional-Quality Core+ Asset, 2020 Vintage

Delivered in 2020, 409 on Nine features 127 Class A luxury units with contemporary design and robust amenity offerings—rooftop patio, fitness center, garage parking—appealing to modern, discerning renters and institutional capital alike.

Exceptional Walkable Location in Dynamic Downtown Ferndale

Boasts a Walk Score of 92 and sits directly on East 9 Mile, offering authentic live-work-play convenience with direct access to Ferndale’s acclaimed restaurants, entertainment venues, nightlife, and boutique retail—all without sacrificing connectivity to metro Detroit employment corridors.

Superior Demographics and Rent Affordability

One-mile radius metrics: median household income of $98.4K (projected to $119.2K by 2030), 49% of households earning $100,000+, and 80% white-collar workforce—bolstering rent growth prospects and rent sustainability well above national and regional norms.

Proven Market Occupancy and Rent Growth

Royal Oak/Oak Park submarket demonstrates 96.1% average occupancy (Q4 2025), driven by high barriers to entry and a deep renter pool. Effective rents averaging $1,403/month have outperformed, and the competitive set validates further upside via targeted interior and common area enhancements.

Compelling Unit Mix and Renter Appeal

Heavily weighted to high-demand one-bedroom units (74%), with modern finishes, in-unit laundry, and premium features such as garage parking and high-floor views, driving both velocity and retention.

Robust Job and Population Growth Anchors Demand

The property benefits from proximity to both Detroit’s rapidly expanding downtown employment core ($6B+ in recent investments, multiple Fortune 500 HQs) and major auto, healthcare, and technology nodes within Oakland County—one of Michigan’s most affluent and educated counties (+21.2% median income growth projected in the TMA).