913 Dewey Avenue, Ann Arbor, MI 48104
$1,200,000
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Property Type:
Multi Family
Lot Size (sq. ft.):
5,663
Status:
Sold
Current Price:
$1,400,000
List Date:
4/16/2024
Last Modified:
5/16/2024
Description
HIGHEST & BEST due by 4/24/24 at 12:00 noon EST. Rare Opportunity to own this 6-unit apartment building nestled along a quiet, tree lined street with great proximity to U of M's south campus and the Sports Complexes. This property presents a lucrative opportunity for investors seeking long-term returns. The property has two 1-bedroom units and four 2-bedroom units. Each unit features a dishwasher, range/oven, refrigerator, and air conditioning. Heat and water are included, tenants pay electric. There is 1 parking spot per unit, a covered area for bicycles, and an on-site washer and dryer. Rental income 1/23 to 12/23 was $95,465. All units are fully rented for Fall of 2024 with annual rental income of $114,600.
More Information MLS# 24017842
Location & Property Info
Cross Streets: Packard and State
Property Sub-Type: 5+ Units
Area: Ann Arbor/Washtenaw - A
Municipality: Ann Arbor
Ownership Type: Private Owned
Office/Contract Info
Auction or For Sale: For Sale
List Price/SqFt: 416.67
General Property Info
New Construction: No
Lot Dimensions: 50 x 112
Financial Available: Yes
Road Frontage: 50
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2026-06-02
Waterfront: No
Basement: Yes
Total # Units: 6
# of Diff Unit Floor Plans: 6
Total # Bldgs: 1
Total Approx. SqFt All Bldgs: 3360
Total Parking Spaces: 8
School District: Ann Arbor
Elementary School: Burns Park Elementary School
High School: Pioneer High School
Middle School: Tappan Middle School
Lot Measurement: Acres
Lot Square Footage: 5663
Lot Acres: 0.13
Year Built: 1965
Tax Info
Taxable Value: 174497
SEV: 591800
For Tax Year: 2023
Seller's Annual Property Tax: 11748
Tax Year: 2023
Homestead %: 0
Spec Assessment & Ty: NONE
Zoning: R4C
Tax ID #: 09-09-33-215-012
Remarks & Misc
Legal: LOT 31 C H CADYS SUB
Status Change Info
Sold Price/SqFt: 357.14
Under Contract Date: 2024-04-19
Sold Date: 2024-04-30
Sold Price: $1,200,000
Lot Description
Level: 1
Sidewalk: 1
Income and Expenses
Annual Insurance: 3314
Annual Mgmt. Fees: 7152
Annual Utilities: 7204
Gross Op. Inc.: 95465
Net Operating Income: 66047
Operating Expense: 29418
Street Type
Paved: 1
Public: 1
Util Avail at Street
Cable Available: 1
Electricity Available: 1
High Speed Internet: 1
Natural Gas Available: 1
Phone Available: 1
Public Sewer: 1
Public Water: 1
Storm Sewer: 1
Utilities Attached
Cable Connected: 1
Electricity Connected: 1
Natural Gas Connected: 1
Phone Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
Mineral Rights
No: 1
Laundry Features
Laundry Room: 1
Assoc. Amenities
Laundry: 1
Exterior Material
Brick: 1
Assoc. Fee Incl.
Lawn/Yard Care: 1
Snow Removal: 1
Trash: 1
Roofing
Rubber: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Baseboard: 1
Hot Water: 1
Air Conditioning
Window Unit(s): 1
Access Feat
Accessibility Features: No
Tenant Pays
Electric: 1
Driveway
Asphalt: 1
Substructure
Slab: 1
Extras
Laundry Facility: 1
Sep Electric Meter: 1
Owner Pays
Electricity: 1
Gas: 1
Sewer: 1
Trash Collection: 1
Water: 1
Unit 1
Unit Description: Unit #1
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
A/C Unit: 1
Dishwasher: 1
Garb Disp: 1
Range Oven: 1
Refrigerator: 1
Unit 2
Unit #: 2
Unit Description: Unit #2
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
A/C Unit: 1
Dishwasher: 1
Garb Disp: 1
Range/Oven: 1
Refrigerator: 1
Unit 3
Unit #: 3
Unit Description: Unit #3
Bedrooms: 2
Bathrooms: 2
Full Baths: 2
Range/Oven: 1
A/C Unit: 1
Garb Disp: 1
Refrigerator: 1
Unit 4
Unit #: 4
Unit Description: Unit #4
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
A/C Unit: 1
Dishwasher: 1
Garb Disp: 1
Range/Oven: 1
Refrigerator: 1
Unit 5
Unit #: 5
Unit Description: Unit #5
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
A/C Unit: 1
Dishwasher: 1
Range/Oven: 1
Refrigerator: 1
Unit 6
Unit #: 6
Unit Description: Unit #6
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
A/C Unit: 1
Dishwasher: 1
Garb Disp: 1
Range/Oven: 1
Refrigerator: 1
Possession
Subject To Tenant Rights: 1
Location Property Info
County: Washtenaw
Street #: 913
Street Name: Dewey
Suffix: Avenue
State: MI
Zip Code: 48104
Zip (4): 3854
OfficeContract Info
Status: Sold
Current Price: $1,200,000
List Price: $1,400,000
Listing Date: 2024-04-16
Remarks Misc
Directions: Packard to Dewy
Property Features
Laundry Features: Laundry Room
Exterior Material: Brick
Roofing: Rubber
Substructure: Slab
Lot Description: Level; Sidewalk
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at Street: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Phone Available; Public Sewer; Public Water; Storm Sewer
Extras: Laundry Facility; Sep Electric Meter
Owner Pays: Electricity; Gas; Sewer; Trash Collection; Water
Tenant Pays: Electric
Heat Source: Natural Gas
Heat Type: Baseboard; Hot Water
Air Conditioning: Window Unit(s)
Driveway: Asphalt
Street Type: Paved; Public
Mineral Rights: No
Terms Available: Cash; Conventional
Possession: Subject To Tenant Rights
Sale Conditions: None
Unit 1: A/C Unit; Dishwasher; Garb Disp; Range Oven; Refrigerator
Unit 2: A/C Unit; Dishwasher; Garb Disp; Range/Oven; Refrigerator
Unit 3: Range/Oven; A/C Unit; Garb Disp; Refrigerator
Unit 4: A/C Unit; Dishwasher; Garb Disp; Range/Oven; Refrigerator
Unit 5: A/C Unit; Dishwasher; Range/Oven; Refrigerator
Unit 6: A/C Unit; Dishwasher; Garb Disp; Range/Oven; Refrigerator
Listing Office:
The Charles Reinhart Company
Listing Agent:
Richard Jarzembowski
Last Updated: May - 16 - 2024
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