$3,450,000
Ann Arbor, MI 48104
MLS# 26035677
1 / 3
Property 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.
Details
Maps
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
General Property Info
New Construction: No
Lot Dimensions: 46x104
Financial Available: Yes
Financial Comments: Annual Gross Income is $266,040
Road Frontage: 46
Cert of Compliance: Yes
Waterfront: No
Basement: No
Total # Units: 7
# of Diff Unit Floor Plans: 7
Total # Bldgs: 1
Total Approx. SqFt All Bldgs: 4256
Total Parking Spaces: 6
School District: Ann Arbor
Association YN: No
Lot Measurement: Acres
Lot Square Footage: 4792
Lot Acres: 0.11
Year Built: 1901
Tax Info
Taxable Value: 741802
SEV: 868200
For Tax Year: 2025
Seller's Annual Property Tax: 20451
Tax Year: 2025
Homestead %: 0
Spec Assessment & Ty: 0
Tax ID #: 09-09-29-105-004
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
Waterfront Options
Water Access Y/N: No
Lot Description
Sidewalk: 1
Street Type
Paved: 1
Public: 1
Util Avail at Street
High Speed Internet: 1
Public Sewer: 1
Public Water: 1
Utilities Attached
Cable Connected: 1
Electricity Connected: 1
Natural Gas Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
Mineral Rights
No: 1
Laundry Features
In Basement: 1
In Unit: 1
Laundry Room: 1
Exterior Material
Aluminum Siding: 1
Roofing
Composition: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Forced Air: 1
Air Conditioning
Central Air: 1
Access Feat
Accessibility Features: No
Tenant Pays
Electric: 1
Gas: 1
Water: 1
Driveway
Concrete: 1
Paved: 1
Substructure
Full: 1
Extras
Sep Electric Meter: 1
Owner Pays
None: 1
Unit 1
Unit #: 1
Unit Description: 1 bed/ 2 occupants
Occupied: Yes
Monthly Rent: 2100
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Central Air: 1
Dishwasher: 1
Range Oven: 1
Refrigerator: 1
Unit 2
Unit #: 2
Unit Description: 1 bed - 1 occupant
Occupied: Yes
Monthly Rent: 2195
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Central Air: 1
Dishwasher: 1
Range/Oven: 1
Refrigerator: 1
Unit 3
Unit #: 3
Unit Description: 4 Bed - 4 occupants
Occupied: Yes
Monthly Rent: 4500
Bedrooms: 4
Bathrooms: 1
Full Baths: 1
Range/Oven: 1
Central Air: 1
Dishwasher: 1
Washer/Dryer: 1
Unit 4
Unit #: 4
Unit Description: 1 bed, 1 occupant,
Occupied: Yes
Monthly Rent: 1800
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Central Air: 1
Dishwasher: 1
Range/Oven: 1
Refrigerator: 1
Unit 5
Unit #: 5
Unit Description: 1 bed, 1 occupant
Occupied: Yes
Monthly Rent: 2095
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Central Air: 1
Dishwasher: 1
Range/Oven: 1
Refrigerator: 1
Unit 6
Unit #: 6
Unit Description: 3 bed, 3 occupants
Occupied: Yes
Monthly Rent: 3900
Bedrooms: 3
Bathrooms: 1
Full Baths: 1
Central Air: 1
Dishwasher: 1
Range/Oven: 1
Refrigerator: 1
Washer/Dryer: 1
Unit 7
Unit #: 7
Unit Description: 4 bed, 4 occupants
Occupied: Yes
Bedrooms: 4
Bathrooms: 1
Full Baths: 1
Central Air: 1
Dishwasher: 1
Refrigerator: 1
Monthly Rent: 4500
Range/Oven: 1
Washer/Dryer: 1
Location Property Info
County: Washtenaw
Street #: 507
Street Direction: E
Street Name: Ann
Suffix: Street
State: MI
Zip Code: 48104
Zip (4): 1457
OfficeContract Info
Status: Active
Current Price: $3,450,000
List Price: $3,450,000
Listing Date: 2026-07-13
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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