Wickfield Properties
Listed by Wickfield Properties
$950,400
1309 S. State Street
Details
Property Type Multifamily
Sub Type Student Housing
Square Footage 2,030
Units 5
Beds 5
Cap Rate 8.33%
NOI $79,200
Occupancy 100%
Price per SqFt $468
Year Built 1885
Parking Spaces 8 spaces
Parking per 1,000 SqFt 3.94
Investment Type Stabilized
Multifamily | University of Michigan Student Housing | 5 Units | $190,080/unit
Marketing description
Introducing the State Street Sanctuary at 1309 S. State Street! This historic gem boasts 5 units, each featuring 5 spacious bedrooms and bathrooms, offering a total annual rent of $79,200. With a listing price of $950,400, this investment opportunity includes a quaint 2030 sq. ft. building with 8 convenient parking spaces. Perfect for investors seeking a piece of history with modern utility conveniences, the property comes unfurnished and includes water utilities. Don't miss out on this rare chance to own a piece of Ann Arbor's rich architecture. Embrace the allure of the State Street Sanctuary!
Investment highlights
Annual Rent: $79,200
Unfurnished
Utilities: Water included
Listing Contacts
Wickfield Properties
Listed by Wickfield Properties
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$79,200.00
$6,600.00/mo
Valuation Metrics
0
DSCR
8.33%
Cap Rate
8.33%
ROI
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