1104 & 1102 Packard St 1102 Packard St 4 Unit Apartment Building $3,800,000 ($950,000/Unit) 5.49% Cap Rate Ann Arbor, MI 48104

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.