1102 Packard St - Apartments FOR SALE


Ann Arbor, MI 48104- Yost
$3,800,000 USD
734-649-2409
1102 Packard St, Ann Arbor, MI for Sale
$3,800,000 USD
Apartments - FOR SALE
1/6
null | 5.49% Cap Rate

1102 Packard St
Ann Arbor, MI 48104
Yost


HIGHLIGHTS

  • Prime Location, steps from University of Michigan Central Campus and Athletic Campus
  • 1104 Packard has been 100% renovated with high end finishes and ultra low maintenance exterior.
  • Always 100% Leased, and an owner can count on 3-5% revenue increases each year.

OVERVIEW

1104 Packard: Beautifully renovated 3 Unit University of Michigan Student Rental Property located steps from University of Michigan's Central Campus and Athletic Campus. 14 Bedrooms and 7 Bathrooms total between all units, the property was fully renovated in 2023 with high end finishes and features throughout which will allow an Owner to continue increasing rents 3-5% each and every leasing cycle. Granite Countertops, Stainless Steel Appliances, Washer & Dryer in each unit, Central A/C. Vaulted Beds, Glass Top Desks, and Microfiber Couches included with the property, 2026-2027 scheduled revenue of $195,600. Must sell as a package with the adjacent property at 1102 Packard. Both properties are scheduled to by Rezoned by the City of Ann Arbor to allow for Mixed Use Development with a potential height limit of 40ft. 1102 Packard: 6 Bedroom University of Michigan Student Rental Property located steps from University of Michigan's Central Campus and Athletic Campus. Large Bedrooms, Hardwood Flooring in common areas, and always rented with 3-5% rent increases every year. New Kitchen and Bathroom in the Basement, with opportunity to turn this into a separate unit in the future. 2026-2027 scheduled revenue of $93,600. Must sell as a package with the adjacent property at 1104 Packard. Both properties are scheduled to by Rezoned by the City of Ann Arbor to allow for Mixed Use Development with a potential height limit of 40ft.

FOR SALE DETAILS

PRICE

$3,800,000 USD

PRICE/SF

$1,660 USD /SF

# OF UNITS

4

PRICE/UNIT

$950,000

CAP RATE

5.49%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1104 & 1102 Packard St

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

R4C

APN/PARCEL ID

09-33-215-025

ASK ABOUT THIS PROPERTY

Chris VesselsMetro Property ServicesMore Info
734-649-2409

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Chris VesselsMetro Property ServicesMore Info
734-649-2409

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.