912-914 Mary St - Apartments FOR SALE


Ann Arbor, MI 48104- Central Ann Arbor | 
$5,249,000 USD
734-649-2409
912-914 Mary St, Ann Arbor, MI for Sale
$5,249,000 USD
Apartments - FOR SALE
1/6
null | 6.15% Cap Rate

912-914 Mary St
Ann Arbor, MI 48104
Central Ann Arbor


HIGHLIGHTS

  • Beautifully Renovated in 2024, with high end finishes and modern amenities. Every Bedroom has its own Bathroom.
  • Steps from UM Central Campus, IM Building, Brand New Wolverine Village Dorm
  • Individually Metered Utilities, Parking for 10+ Cars, Low Maintenance Exterior. Turnkey Investment Easy Ownership.

OVERVIEW

Brand New 4 Unit University of Michigan student rental property located steps from Central Campus in Ann Arbor. Fully renovated in 2024, the property has a total of 23 Bedrooms & 24 1/2 Bathrooms(each Bedroom with its own Ensuite Bathroom). High End finishes throughout with Stainless Steel Appliances and Granite Countertops to command top of market Rents. Low Maintenance Exterior, and High Efficiency Forced Air Furnace & A/C. Equipped with NFPA 13R Fire Suppression System throughout for superior safety. All Furnishings included in the sale, with In-Unit Washer and Dryer. Beautiful front deck with Trex Decking, and massive 700sq/ft 2nd story rear deck for entertaining. .205 Acre lot with rear parking for 10+ cars. Planned future upzoning of the property would allow a Mixed Use Building up to 70 ft height(60,000+sq/ft). Steps from University of Michigan’s Central Campus, IM Building, Athletic Campus, new 2300 Bedroom Wolverine Village Dorm. Plenty of Additional Upside, with rent increases of 3-5% each year.

FOR SALE DETAILS

PRICE

$5,249,000 USD

PRICE/SF

$869 USD /SF

# OF UNITS

4

PRICE/UNIT

$1,312,250

CAP RATE

6.15%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1901

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,350 SF

ZONING

R4C

APN/PARCEL ID

09-32-103-029

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.