508 W Summit Street
Ann Arbor, MI 48103

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Description

Perched atop a corner lot in the always desirable Water Hill, sits this 5 unit apartment building. With strong rents and virtually zero vacancy, this investment features not just location, but some big ticket updates- including a new roof (2022) and new laundry center (2024). All units are either studios or 1 bedroom and all have a full bathroom and kitchen. Driveway parking. Monthly rent roll is $6,035 with tenants paying utilities via bill back. A great investment opportunity.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family
• Listing Status: Active
• County/Area: Washtenaw County
• Zip Code: 48103
• Year Built: 1901
• School District: Ann Arbor
• Units: 5 units
• Basement: Full, Yes, Yes
• # of Parking Spaces: 4
• Lot Size: 9496 sq ft lot
• Construction Materials: Stucco
• Cross Street: Spring and Summit
• Directions: Summit at Spring.
• Driveway: Shared Paved
• Heat Source: Natural Gas
• Heat Type: Forced Air
• Heating: Forced Air
• Laundry Features: Common Area, In Basement, Laundry Room
• Lot Description: Sidewalk
• Lot Features: Sidewalk
• Lot Size Area: 0.22
• Lot Size Square Feet: 9496
• Lot Size Units: Acres
• MLS Area Major: Ann Arbor/Washtenaw - A
• MLS Area Minor: Ann Arbor/Washtenaw - A
• Main Type: Multi Family
• Number Of Buildings: 1
• Number Of Diff Unit Floor Plans: 5
• Ownership: Private Owned
• Parcel Number: 09-09-20-301-002
• Possession: Close Of Escrow
• Road Frontage: 82
• Road Surface Type: Paved
• SEV: 291600
• Sewer: Public Sewer
• Street Type: Paved
• Tax Annual Amount: 18744
• Tax Year: 2025
• Tenant Pays: Electricity, Gas, Sewer, Trash Collection, Water
• Terms Available: Cash, Conventional
• Total Approx Sq Ft All Bldgs: 1715
• Township: Ann Arbor
• Util Availat Street: Cable Available
• Utilities: Cable Connected, Cable Available
• Water Access: No
• Water Source: Public Water
• Zoning Description: R2A