307 Packard Street
Ann Arbor, MI 48104

$2,115,000
Est. Mortgage: $8,144/mo
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Pending
  • 5,786
    sq.ft.
Multi-Family Home

University of Michigan student rental property with excellent central campus location. Single property with two buildings on the parcel, a building with six 2 bedroom units (307 Packard) and a 5+ bedroom house / 2.5 bathrooms (309 Packard) which a massive 3rd floor area that can house several people. Must be sold together as the property is one legal parcel. 307 Packard has three of the 6 units renovated, with upside on the 3 units that could be renovated. 309 Packard has been totally renovated and its always very quick to rent in the fall leasing season. Huge parking lot with ample property both buildings and laundry room in basement of 309 Packard that services both buildings. Opportunity to own both a building and a house with one purchase. Can also be sold along with 1919 Geddes as a portfolio. 307 Packard Monthly Rent $8991.00, 309 Packard Monthly Rent $5695.00. Current Certificate of Occupancy Expires 12/1/18.

Property Details
  • Ann Arbor
    school district
  • 1963
    built
  • 3252865
    MLS#
Parking spaces: 8
Lot acreage is: 0.18
Lot zoned: R4C
Units in building(s): 7.00
Courtesy of:
Cabrio Group LLC
Bennett B Borsuk

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Name Type GreatSchools
Rating
Distance
Bach Elementary School Elementary School / Public 10 0.49 mi.
Slauson Middle School Middle School / Public 6 0.82 mi.
Pioneer High School High School / Public 10 0.92 mi.
St. Thomas the Apostle School * Pre-School, Elementary School, Middle School / Private N/A 0.75 mi.
Wedgwood-Ann Arbor * Middle School, High School / Private N/A 0.45 mi.
Community High School * High School / Public N/A 0.56 mi.
Address Distance Sale date Sale price
728 South Main Street 0.34 mi. 10/2/2017 $1,895,000
922 Holmes Road 7.88 mi. 4/10/2017 $2,300,000
{"markerType": "ForSale", "lat": "42.2756", "lng": "-83.74591", "Address": "307 Packard Street", "City": "Ann Arbor", "StateProv": "MI", "ZipCode": "48104"}
{"markerType": "Sold", "lat": "42.27174", "lng": "-83.75005", "Address": "728 South Main Street", "City": "Ann Arbor", "StateProv": "MI", "ZipCode": "48104"}
{"markerType": "Sold", "lat": "42.25257", "lng": "-83.59497", "Address": "922 Holmes Road", "City": "Ypsilanti", "StateProv": "MI", "ZipCode": "48198"}
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The approximate monthly principal & interest payment for this property would be $8,144.34.

This payment is based on a 30-year loan at a fixed rate of 4.000 % - APR 4.068 % with a down payment of $423,000. Actual lender interest rates and loan programs may vary. Loans with lower down payments are available.

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307 Packard Street, Ann Arbor, MI 48104 multi-family home offered for sale at $2,115,000.
School ratings are supplied by GreatSchools. School attendance zone boundaries are supplied by Maponics. Both are subject to change.

* indicates a school is in close proximity to this home, but this home is not guaranteed to fall within the school's attendance zone boundaries. Check with the applicable school district prior to making a decision based on these boundaries.