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415 E Hoover St
Ann Arbor, MI 48104
415 Hoover · Multifamily Property For Sale
·
14 Units
Investment Highlights
- The property is located within walking and biking distance of the University of Michigan Central Campus and athletic facilities.
- Downtown Ann Arbor restaurants, retail destinations, and entertainment venues are accessible from the property.
- Regional access is supported by Interstate 94, U.S. 23, M-14, Ann Arbor Amtrak Station, and Detroit Metropolitan Wayne County Airport.
- The asset consists of 14 residential units configured for student housing occupancy.
- The site benefits from an established infill location with limited nearby development opportunities.
- The property is currently marketed as a fully occupied student housing investment.
Executive Summary
Wickfield CRE, on behalf of ownership, is pleased to present the opportunity
to acquire 415 E. Hoover Ave, a fully occupied student housing investment
located just steps from the University of Michigan campus in Ann Arbor — one
of the most stable and sought-after college housing markets in the country.
This 14-unit, 28-bedroom multifamily property encompasses approximately
6,344 square feet and is purpose-built to meet consistent demand from the
University of Michigan’s growing student population. The unit mix and
bedroom count are ideally aligned with the student renter profile, maximizing
rental income while maintaining strong leasing velocity year after year.
Positioned within walking and biking distance to Central Campus, the
University of Michigan Athletic Campus, and downtown Ann Arbor amenities,
the property benefits from irreplaceable infill location fundamentals and high
barriers to new competing supply. The area is characterized by persistent
housing demand, limited developable land, and a long-standing history of
strong occupancy and rental growth.
to acquire 415 E. Hoover Ave, a fully occupied student housing investment
located just steps from the University of Michigan campus in Ann Arbor — one
of the most stable and sought-after college housing markets in the country.
This 14-unit, 28-bedroom multifamily property encompasses approximately
6,344 square feet and is purpose-built to meet consistent demand from the
University of Michigan’s growing student population. The unit mix and
bedroom count are ideally aligned with the student renter profile, maximizing
rental income while maintaining strong leasing velocity year after year.
Positioned within walking and biking distance to Central Campus, the
University of Michigan Athletic Campus, and downtown Ann Arbor amenities,
the property benefits from irreplaceable infill location fundamentals and high
barriers to new competing supply. The area is characterized by persistent
housing demand, limited developable land, and a long-standing history of
strong occupancy and rental growth.
Property Facts
| Price Per Unit | $371,429 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Cap Rate | 6.20% | Building Size | 6,334 SF |
| No. Units | 14 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 3.47/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R4C - Residential | ||
| Price Per Unit | $371,429 |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 6,334 SF |
| No. Stories | 3 |
| Year Built | 1962 |
| Parking Ratio | 3.47/1,000 SF |
| Zoning | R4C - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Built-In Bookshelves
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 14 | - | - |
Property Taxes
| Parcel Number | 09-32-107-011 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,132,900 |
Property Taxes
Parcel Number
09-32-107-011
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,132,900
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