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507 E Ann St
Ann Arbor, MI 48104
Ann Arbor Student Rental | 507 E Ann St · Multifamily Property For Sale
·
7 Units
Executive Summary
Rare opportunity to acquire a fully renovated multifamily asset in the heart of the highly desirable Kerrytown district of Ann Arbor. Located at 507 E Ann Street, the property consists of 7 units with a total of 15 beds and 6 on-site parking spaces, offering a diverse unit mix that includes both one-bedroom apartments and larger multi-bedroom layouts. Extensive renovations have been completed throughout the property, including new plumbing, electrical, insulation, and storm windows, creating a turnkey investment opportunity with strong long-term appeal. Interior finishes feature quartz countertops, custom cabinetry, and consistent high-end finishes throughout all units, providing a cohesive and modern tenant experience. Positioned within walking distance to the University of Michigan, Kerrytown Market, downtown restaurants, retail, and entertainment, the property is ideally located for strong tenant demand and long-term rental stability.
Property Facts
| Price Per Unit | $492,857 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 7.71% | Building Size | 5,934 SF |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1901 |
| Property Subtype | Apartment | Parking Ratio | 0.51/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R4C | ||
| Price Per Unit | $492,857 |
| Sale Type | Investment |
| Cap Rate | 7.71% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 5,934 SF |
| No. Stories | 3 |
| Year Built | 1901 |
| Parking Ratio | 0.51/1,000 SF |
| Zoning | R4C |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Freezer
Site Amenities
- 24 Hour Access
- Picnic Area
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Property Taxes
| Parcel Number | 09-29-105-004 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $868,200 |
Property Taxes
Parcel Number
09-29-105-004
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$868,200
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