Student Housing Duplex

Multi-Family for Sale
Catylist Listing ID: 30762097
Property Subtypes: Duplex/Fourplex, Student Housing
Number of Units: 2 Units
Building Size (RSF): 2,147 SF
Gross Land Area: 0.07 Acres
Sale Price: $815,000
Unit Price: $407,500 Per Unit
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 10/15/2021

Overview / Comments

Ideally located duplex student housing near Michigan Stadium (The Big House) Elbel Field, and easy walk to Central Campus and downtown Ann Arbor. Renovated in 2009, including outside siding, roof, walls, and windows.

Main level is approx. 900 SF with hardwood floors, living/dining room with fireplace, three bedrooms, and one bath. Upper level (including attic space) offers approx. 1,200 SF with four bedrooms, one bath, and large kitchen. Laundry located in basement, with storage for tenants' use.
2 parking spaces available, plenty of on street parking.

Additional Details

Nearest MSA: Ann Arbor
County: Washtenaw
Submarket/Township: Washtenaw W of 23
Taxing Authority: City of Ann Arbor
Tax ID/APN: 09-09-32-106-004
Zoning: R4C
Percent Occupied: 100%
Property Located Between: Hill Street and Hoover Street
Highway Access: M-14, I-94
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 2
Year Built: 1924
Year Renovated: 2009
Roof Type: Gable
Parking Type: Surface
Total Parking Spaces: 2
Laundry: Shared
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: The R4C Multiple-Family Dwelling District is intended to be located in the central area of the City in close proximity to the central business district and the University of Michigan campus.
Lot Frontage: 58
Lot Depth: 56
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: provided with title commitment
Land Ownership: owned
Legal Description: S 58 FT LOT 1 BLK 2 JOHN F LAWRENCES ADDN

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 35,574 117,111 168,807
Median Age: 25.98 33.2 34.45
Households: 11,901 48,197 69,587


Photograph of Listing Agent

James H. Chaconas

Colliers International
CPIX Member
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