507 E Ann Street, Ann Arbor, MI 48104 (MLS# 26035677)

507 E Ann Street, Ann Arbor, MI 48104

$3,450,000

Property Type: Multi Family Lot Size (sq. ft.): 4,792 Status: Active

Current Price: $3,450,000 List Date: 7/13/2026 Last Modified: 7/16/2026

Overview

Description

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 furnishings feature quartz countertops, custom cabinetry, and consistent high-end niches throughout all units, providing a cohesive and modern tenant experience. Positioned within walking distance to the University of Michigan, Kerrytown Market, downtown restaurants, retail shops, and entertainment, the property is ideally located for strong tenant demand and long-term rental stability.

Listing Details MLS# 26035677

Location Property Info

County: Washtenaw
Street #: 507
Street Direction: E
Street Name: Ann
Suffix: Street
State: MI
Zip Code: 48104
Zip (4): 1457

General Property Info

Lot Measurement: Acres
Lot Square Footage: 4792
Lot Acres: 0.11
Lot Dimensions: 46x104
Year Built: 1901
New Construction: No
Financial Available: Yes
Financial Comments: Annual Gross Income is $266,040
Cert of Compliance: Yes
Road Frontage: 46
Total # Units: 7
# of Diff Unit Floor Plans: 7
Total # Bldgs: Yes
Total Approx. SqFt All Bldgs: 4256
Total Parking Spaces: 6
Waterfront: No
School District: Ann Arbor
Association YN: No
Basement: No

Tax Info

Tax ID #: 09-09-29-105-004
Taxable Value: 741802
SEV: 868200
For Tax Year: 2025
Seller's Annual Property Tax: 20451
Tax Year: 2025
Homestead %: 0
Spec Assessment & Ty: No

Waterfront Options

Water Access Y/N: No

Access Feat

Accessibility Features: No

More Information

Unit 1

Unit #: Yes
Unit Description: 1 bed/ 2 occupants
Occupied: Yes
Monthly Rent: 2100
Bathrooms: Yes
Full Baths: Yes
Central Air: Yes
Dishwasher: Yes
Range Oven: Yes
Refrigerator: Yes

Unit 2

Unit #: 2
Unit Description: 1 bed - 1 occupant
Occupied: Yes
Monthly Rent: 2195
Bathrooms: Yes
Full Baths: Yes
Central Air: Yes
Dishwasher: Yes
Range/Oven: Yes
Refrigerator: Yes

Unit 3

Unit #: 3
Unit Description: 4 Bed - 4 occupants
Occupied: Yes
Monthly Rent: 4500
Bathrooms: Yes
Full Baths: Yes
Range/Oven: Yes
Central Air: Yes
Dishwasher: Yes
Washer/Dryer: Yes

Unit 4

Unit #: 4
Unit Description: 1 bed, 1 occupant,
Occupied: Yes
Monthly Rent: 1800
Bathrooms: Yes
Full Baths: Yes
Central Air: Yes
Dishwasher: Yes
Range/Oven: Yes
Refrigerator: Yes

Unit 5

Unit #: 5
Unit Description: 1 bed, 1 occupant
Occupied: Yes
Monthly Rent: 2095
Bathrooms: Yes
Full Baths: Yes
Central Air: Yes
Dishwasher: Yes
Range/Oven: Yes
Refrigerator: Yes

Unit 6

Unit #: 6
Unit Description: 3 bed, 3 occupants
Occupied: Yes
Monthly Rent: 3900
Bathrooms: Yes
Full Baths: Yes
Central Air: Yes
Dishwasher: Yes
Range/Oven: Yes
Refrigerator: Yes
Washer/Dryer: Yes

Unit 7

Unit #: 7
Unit Description: 4 bed, 4 occupants
Occupied: Yes
Bathrooms: Yes
Full Baths: Yes
Monthly Rent: 4500
Central Air: Yes
Dishwasher: Yes
Refrigerator: Yes
Range/Oven: Yes
Washer/Dryer: Yes

Location & Property Info

Cross Streets: N. Division and Ann
Property Sub-Type: 5+ Units
Municipality: Ann Arbor
Ownership Type: Private Owned

Office/Contract Info

Auction or For Sale: For Sale
List Price/SqFt: 810.62

Remarks & Misc

Public Remarks: 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 furnishings feature quartz countertops, custom cabinetry, and consistent high-end niches throughout all units, providing a cohesive and modern tenant experience. Positioned within walking distance to the University of Michigan, Kerrytown Market, downtown restaurants, retail shops, and entertainment, the property is ideally located for strong tenant demand and long-term rental stability.
Legal: E 1/2 LOT 5 AND W 9 FT LOT 6 PLAT OF G WILCOXSON LAND

Lot Description

Sidewalk: Yes

Street Type

Paved: Yes
Public: Yes

Util Avail at Street

High Speed Internet: Yes
Public Sewer: Yes
Public Water: Yes

Utilities Attached

Cable Connected: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes

Sewer

Public Sewer: Yes

Water

Public Water: Yes

Terms Available

Cash: Yes
Conventional: Yes

Mineral Rights

No: Yes

Laundry Features

In Basement: Yes
In Unit: Yes
Laundry Room: Yes

Exterior Material

Aluminum Siding: Yes

Roofing

Composition: Yes

Heat Source

Natural Gas: Yes

Sale Conditions

None: Yes

Heat Type

Forced Air: Yes

Air Conditioning

Central Air: Yes

Tenant Pays

Electric: Yes
Gas: Yes
Water: Yes

Driveway

Concrete: Yes
Paved: Yes

Substructure

Full: Yes

Extras

Sep Electric Meter: Yes

Owner Pays

None: Yes

Property Features

Laundry Features: In Basement; In Unit; Laundry Room Exterior Material: Aluminum Siding Roofing: Composition Substructure: Full Lot Description: Sidewalk Sewer: Public Sewer Water: Public Water Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected Util Avail at Street: High Speed Internet; Public Sewer; Public Water Extras: Sep Electric Meter Owner Pays: None Tenant Pays: Electric; Gas; Water Heat Source: Natural Gas Heat Type: Forced Air Air Conditioning: Central Air Driveway: Concrete; Paved Street Type: Paved; Public Mineral Rights: No Terms Available: Cash; Conventional Sale Conditions: None Unit 1: Central Air; Dishwasher; Range Oven; Refrigerator Unit 2: Central Air; Dishwasher; Range/Oven; Refrigerator Unit 3: Range/Oven; Central Air; Dishwasher; Washer/Dryer Unit 4: Central Air; Dishwasher; Range/Oven; Refrigerator Unit 5: Central Air; Dishwasher; Range/Oven; Refrigerator Unit 6: Central Air; Dishwasher; Range/Oven; Refrigerator; Washer/Dryer Unit 7: Central Air; Dishwasher; Refrigerator; Range/Oven; Washer/Dryer

Listing Office: Altitude Commercial Real Estat

Listing Agent: George Abro

Last Updated: July - 16 - 2026

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