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
913 Dewey Avenue, Ann Arbor, MI 48104
$1,200,000
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Overview
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.
Listing Details MLS# 24017842
Location Property Info
- County
- Washtenaw
- Street #
- 913
- Street Name
- Dewey
- Suffix
- Avenue
- State
- MI
- Zip Code
- 48104
- Zip (4)
- 3854
General Property Info
- Lot Measurement
- Acres
- Lot Square Footage
- 5663
- Lot Acres
- 0.13
- Lot Dimensions
- 50 x 112
- Year Built
- 1965
- New Construction
- No
- Financial Available
- Yes
- Cert of Compliance
- Yes
- Cert. of Compliance Exp Date
- 2026-06-02
- Road Frontage
- 50
- Total # Units
- 6
- # of Diff Unit Floor Plans
- 6
- Total # Bldgs
- Yes
- Total Approx. SqFt All Bldgs
- 3360
- Total Parking Spaces
- 8
- Waterfront
- No
- School District
- Ann Arbor
- Elementary School
- Burns Park Elementary School
- Middle School
- Tappan Middle School
- High School
- Pioneer High School
- Basement
- Yes
Tax Info
- Tax ID #
- 09-09-33-215-012
- Taxable Value
- 174497
- SEV
- 591800
- For Tax Year
- 2023
- Seller's Annual Property Tax
- 11748
- Tax Year
- 2023
- Spec Assessment & Ty
- NONE
- Zoning
- R4C
- Homestead %
- 0
Remarks Misc
- Directions
- Packard to Dewy
Status Change Info
- Under Contract Date
- 2024-04-19
- Sold Date
- 2024-04-30
- Sold Price/SqFt
- 357.14
More Information
Access Feat
- Accessibility Features
- No
Income and Expenses
- Annual Insurance
- 3314
- Annual Mgmt. Fees
- 7152
- Annual Utilities
- 7204
- Gross Op. Inc.
- 95465
- Net Operating Income
- 66047
- Operating Expense
- 29418
Unit 1
- Unit Description
- Unit #1
- Bathrooms
- Yes
- Full Baths
- Yes
- A/C Unit
- Yes
- Dishwasher
- Yes
- Garb Disp
- Yes
- Range Oven
- Yes
- Refrigerator
- Yes
Unit 2
- Unit #
- 2
- Unit Description
- Unit #2
- Bathrooms
- Yes
- Full Baths
- Yes
- A/C Unit
- Yes
- Dishwasher
- Yes
- Garb Disp
- Yes
- Range/Oven
- Yes
- Refrigerator
- Yes
Unit 3
- Unit #
- 3
- Unit Description
- Unit #3
- Bathrooms
- 2
- Full Baths
- 2
- Range/Oven
- Yes
- A/C Unit
- Yes
- Garb Disp
- Yes
- Refrigerator
- Yes
Unit 4
- Unit #
- 4
- Unit Description
- Unit #4
- Bathrooms
- Yes
- Full Baths
- Yes
- A/C Unit
- Yes
- Dishwasher
- Yes
- Garb Disp
- Yes
- Range/Oven
- Yes
- Refrigerator
- Yes
Unit 5
- Unit #
- 5
- Unit Description
- Unit #5
- Bathrooms
- Yes
- Full Baths
- Yes
- A/C Unit
- Yes
- Dishwasher
- Yes
- Range/Oven
- Yes
- Refrigerator
- Yes
Unit 6
- Unit #
- 6
- Unit Description
- Unit #6
- Bathrooms
- Yes
- Full Baths
- Yes
- A/C Unit
- Yes
- Dishwasher
- Yes
- Garb Disp
- Yes
- Range/Oven
- Yes
- Refrigerator
- Yes
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
Remarks & Misc
- Legal
- LOT 31 C H CADYS SUB
Lot Description
- Level
- Yes
- Sidewalk
- Yes
Street Type
- Paved
- Yes
- Public
- Yes
Util Avail at Street
- Cable Available
- Yes
- Electricity Available
- Yes
- High Speed Internet
- Yes
- Natural Gas Available
- Yes
- Phone Available
- Yes
- Public Sewer
- Yes
- Public Water
- Yes
- Storm Sewer
- Yes
Utilities Attached
- Cable Connected
- Yes
- Electricity Connected
- Yes
- Natural Gas Connected
- Yes
- Phone Connected
- Yes
Sewer
- Public Sewer
- Yes
Water
- Public Water
- Yes
Terms Available
- Cash
- Yes
- Conventional
- Yes
Mineral Rights
- No
- Yes
Laundry Features
- Laundry Room
- Yes
Assoc. Amenities
- Laundry
- Yes
Exterior Material
- Brick
- Yes
Assoc. Fee Incl.
- Lawn/Yard Care
- Yes
- Snow Removal
- Yes
- Trash
- Yes
Roofing
- Rubber
- Yes
Heat Source
- Natural Gas
- Yes
Sale Conditions
- None
- Yes
Heat Type
- Baseboard
- Yes
- Hot Water
- Yes
Air Conditioning
- Window Unit(s)
- Yes
Tenant Pays
- Electric
- Yes
Driveway
- Asphalt
- Yes
Substructure
- Slab
- Yes
Extras
- Laundry Facility
- Yes
- Sep Electric Meter
- Yes
Owner Pays
- Electricity
- Yes
- Gas
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Water
- Yes
Possession
- Subject To Tenant Rights
- Yes
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
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. 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.
