913 Dewey Avenue, Ann Arbor, MI 48104 (MLS# 24017842)

913 Dewey Avenue, Ann Arbor, MI 48104

$1,200,000

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

County: Washtenaw Street #: 913 Street Name: Dewey Suffix: Avenue State: MI Zip Code: 48104 Zip (4): 3854 Area: Ann Arbor/Washtenaw - A

OfficeContract Info

Status: Sold Current Price: $1,200,000 List Price: $1,400,000 Listing Date: 2024-04-16

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: 1 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

Tax Info

Tax ID #: 09-09-33-215-012 Taxable Value: 174497 SEV: 591800 For Tax Year: 2023 Annual Property Tax: 11748 Tax Year: 2023 Spec Assessment & Ty: NONE Zoning: R4C

Remarks Misc

Directions: Packard to Dewy

Status Change Info

Under Contract Date: 2024-04-19 Sold Date: 2024-04-30 Sold Price: $1,200,000 Sold Price/SqFt: 357.14

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 Bedrooms: 1 Bathrooms: 1 Full Baths: 1

Unit 2

Unit #: 2 Unit Description: Unit #2 Bedrooms: 1 Bathrooms: 1 Full Baths: 1

Unit 3

Unit #: 3 Unit Description: Unit #3 Bedrooms: 2 Bathrooms: 2 Full Baths: 2

Unit 4

Unit #: 4 Unit Description: Unit #4 Bedrooms: 2 Bathrooms: 1 Full Baths: 1

Unit 5

Unit #: 5 Unit Description: Unit #5 Bedrooms: 2 Bathrooms: 1 Full Baths: 1

Unit 6

Unit #: 6 Unit Description: Unit #6 Bedrooms: 2 Bathrooms: 1 Full Baths: 1

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: Broadband; Cable Available; Electricity Available; 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

913 Dewey Avenue, Ann Arbor, MI 48104- MLS# 24017842

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.