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29485175
29485176

415 E Hoover Ave, Ann Arbor, MI 48104

ER
MI MI 6501438609
Wickfield Properties
Listed by Wickfield Properties
$5,200,000
125 days on market
Updated 16 days ago

415 E Hoover Ave

Details
APN 09-09-32-107-011
Property Type Multifamily
Sub Type Apartment Building, Student Housing
Square Footage 6,344
Units 14
Beds 28
Cap Rate 5.77%
NOI $300,000
Occupancy 100%
Price per SqFt $820
Class B
Year Built 1962
Year Renovated 2020
Stories 3
Acreage 0.320
Zoning R4C
Parking Spaces 19 spaces
Parking Per SqFt 2.99
Investment Type Stabilized

Multifamily | University of Michigan Student Housing

Marketing description

Wickfield CRE, on behalf of ownership, is pleased to present the opportunity to acquire 415 E. Hoover Ave, a fully occupied student housing investment located just steps from the University of Michigan campus in Ann Arbor — one of the most stable and sought-after college housing markets in the country.

This 14-unit, 28-bedroom multifamily property encompasses approximately 6,344 square feet and is purpose-built to meet consistent demand from the University of Michigan’s growing student population. The unit mix and bedroom count are ideally aligned with the student renter profile, maximizing rental income while maintaining strong leasing velocity year after year.

Positioned within walking and biking distance to Central Campus, the University of Michigan Athletic Campus, and downtown Ann Arbor amenities, the property benefits from irreplaceable infill location fundamentals and high barriers to new competing supply. The area is characterized by persistent housing demand, limited developable land, and a long-standing history of strong occupancy and rental growth.

Investment highlights

University of Michigan Student Housing

Listing Contacts

ER
MI MI 6501438609
Wickfield Properties
Listed by Wickfield Properties

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Loan Amount
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Annual Cash Flow
$300,000.00
$25,000.00/mo

Valuation Metrics

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DSCR
5.77%
Cap Rate
5.77%
ROI

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Additional Information

Name
Eric Rudland
License
MI 6501438609
Brokerage
Wickfield Properties
Title
Director of Commercial Real Estate
Brokerage Address
230 Huronview Boulevard
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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