$1,475,000

1117 Prospect

Ann Arbor MI, 48104

Description

Two Prime UofM Student Rental Properties in One! Also known as 1032 Church St. $118,800 Gross Annual Revenue!

2-Unit University of Michigan Student Rental Property located steps from Central Campus directly in the midst of the most popular neighborhood for UofM Undergraduates. Unit 1 has a porch facing Prospect St and is fully renovated with 6 Bedrooms and 2 Bathrooms. Unit 2 has a porch facing Church St and is fully renovated with 6 Bedrooms and 2 Bathrooms. Entire property Leased through Fall 2022, with each unit leased at $4950/mo and residents paying all utilities($118,800 Gross Annual Revenue). Typically rents itself 10 months ahead of time with 3-5% rent increases each year. Onsite Parking for 7-8 Cars. High Efficiency Furnaces, High Efficiency Central A/C, Updated Windows, Granite Countertops, Cherrywood Cabinets and Hardwood flooring throughout. Washer and Dryer Included, along with Standard Furnishings. Plumbing and Electrical completely updated. Property taxes are lower than comparable properties in the neighborhood. For more information or to schedule a showing, e-mail chvessels@gmail.com.

Details

MLS#3273976
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1920
Days On Site167

Features

SQ Feet2,515
Units2
Building(s)1

Market Activity 48104

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Area Information
StateMI
CountyWashtenaw
CityAnn Arbor
Zip Code48104
AreaAA Downtown/Burns Pa
Listing VS Median (in 48104)
Price:
$1,475,000
low | high
Med:
$360,000
100% of Average
SqFt:
2,515
low | high
Med:
1,100
100% of Average
$ / SqFt:
$586
low | high
Med:
$327
94.197226502311% of Average
On Site:
167
low | high
Med:
43
100% of Average
Listing Updated: November 25, 2020 8:19:11 PM PST
Christopher Vessels LogoMLS Number: 3273976
Listing Provided By:
Christopher Vessels  of  Metro Property Services
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Ann Arbor Area Association of Realtors® MLS.