Prepared by James H. Chaconas, Colliers International 734-994-3100 [O] [email protected] Jul 19, 2021 on CPIX Michigan Real Estate License: 6502358011
Redevelopment Student High-Rise or Income Property 609 S 5th Ave, Ann Arbor, MI 48104 Listing ID: 30747634 Status: Active Property Type: Multi-Family For Sale Multi-Family Type: High-Rise, Student Housing Size: 20,070 SF Sale Price: See Agent Sale Terms: Cash to Seller Overview/Comments Established 100% leased for 2021-2022 student housing property portfolio for sale: 609 S Fifth Ave (1 building), and 316 E Madison Street (2 buildings). Properties are adjacent and can be combined for redevelopment or continue as high income-producing investment property. Prime location; walking distance to the Central Campus, Yost Ice Arena, Michigan Stadium, and the Crisler Center. 609 S Fifth Ave: 3-story property built in 1999 with 5,166 SF. It offers six 1,735 SF two-bedroom, two-bath units, and one 1,625 two-bedroom, one- bath unit. More Information Online 316 E Madison Street: Two 2-story properties built in 1963 with 14,904 SF. http://cie.cpix.net/listing/30747634 Combined, the buildings offer 24 units with 2 one-bedroom, 1 bath units, and 22 two-bedroom, one-bath units. QR CodeQR Code Well maintained with plenty of parking. Scan this image with your mobile device: Additional information available with executed confidentiality agreement.
General Information
Taxing Authority: City of Ann Arbor Property Use Type: Net Leased Investment (NNN), Investment Tax ID/APN: 09-09-29-432-008, 09-09-29-432-013 Total Number of Units: 31 Multi-Family Type: High-Rise, Student Housing Building/Unit Size (RSF): 20,070 SF Zoning: R4C Sale Terms: Cash to Seller OccupancyOccupancy Percent Occupied: 100% Area & Location Property Located Between: S Division Street and S Main Street Highway Access: M-14, I-94 Building Related Total Number of Buildings: 3 Freight Elevators: 0 Property Condition: Good Heat Type: Natural Gas Number of Stories: 3 Heat Source: Central Year Built: 1963 Fuel: Gas Roof Type: Flat Air Conditioning: Package Unit Parking Type: Surface Internet Access: Cable Passenger Elevators: 0 Land RelatedLand Related Water Service: Municipal Sewer Type: Municipal Page 1Page 1 Prepared by James H. Chaconas, Colliers International 734-994-3100 [O] [email protected] Jul 19, 2021 on CPIX Michigan Real Estate License: 6502358011
Easements: Other Easements Description: available with title commitment Land Ownership: owned
Zoning Description The R4C multiple-family dwelling district is intended to be located in the central area of the city, in close proximity to the central business district and The University of Michigan Campus.
Legal Description 609 S Fifth Ave: S 42 FT LOT 2 B6S R6E PLAT OF MAYNARD AND MORGANS ADDITION. 316 E Madison Street: N 66 FT LOTS 7 & 8 AND ALL LOTS 18 & 19 B6S R6E PLAT OF MAYNARD AND MORGANS ADDITION
Location Address: 609 S 5th Ave, Ann Arbor, MI 48104 MSA: Ann Arbor County: Washtenaw Submarket: Washtenaw W of 23
Property Images
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Page 2 Prepared by James H. Chaconas, Colliers International 734-994-3100 [O] [email protected] Jul 19, 2021 on CPIX Michigan Real Estate License: 6502358011
fifth ave (2) madison (5)
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Property Contacts
James H. Chaconas Colliers International 734-994-3100 [O] [email protected]
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