Back to Search

Corner Lot 5-Unit Multifamily Investment

501 S University, Mt Pleasant, MI 48858

View on Map

For Sale

$359,900

MULTI_FAMILY - Mt Pleasant, MI

Type:Apartment

Property size:

3,725 SF

Lot size:

0.18 Acres

Price / SF:

$96/SF

HighLights

Fully occupied 5‑unit multifamily on a corner lot with leases signed through 2027
Unit mix and sizes: Unit 1 (800 SF) 3 bed/1 bath; Unit 2 (700 SF) 2 bed/1 bath; Unit 3 (900 SF) 3 bed/1 bath; Unit 4 (450 SF) 1 bed/1 bath; Unit 5 (1000 SF) 4 bed/1 bath
Current rents are $500–$900 per month
Separate utilities and ample off‑street parking
Built in 1900; frame construction with asphalt roof
Interior features include hardwood floors, storage space, and drywall; appliances include refrigerator and oven/range

We can help!

Contact an agent

Mike Henkel

For Sale

$359,900

MULTI_FAMILY - Mt Pleasant, MI

Type:Apartment

Property size:

3,725 SF

Lot size:

0.18 Acres

Price / SF:

$96/SF

Added:: Dec 3, 2025
Days on Market:: 216
Last Refresh:: Jul 7 at 11:06 pm

Property Features for 501 S University

General Information

Property type: Residential Multi Family
Property subtype: Apartment
Zoning: Multi-Family
Interior features: Hardwood Floors, Storage Space, Drywall
Appliances: Refrigerator, Oven/Range, Smoke Alarms
Standard status: Active
Size: 3,725 SF
Lot size: 0.18 Acres

Taxes and HOA fees

Tax Description: BENTLEY ADD LOT 5 BLOCK 8. NOTE: RENTAL - __ UNITS/__ OCC

Building Details

Year built: 1900
Floors in Building: 2
Number of units: 5
Building materials: Frame
Roof type: Asphalt
Architectural style: Other
Additional Structures: Storage

We can help!

Contact an agent

Mike Henkel

Listing agent Mike Henkel License #6502431250

Listing office THE BRAVADO REALTY 1002 W Broomfield, Mt Pleasant, MI

Listing date Dec 3, 2025

MLS# 1940950 Listing URL

Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HighLights

Fully occupied 5‑unit multifamily on a corner lot with leases signed through 2027
Unit mix and sizes: Unit 1 (800 SF) 3 bed/1 bath; Unit 2 (700 SF) 2 bed/1 bath; Unit 3 (900 SF) 3 bed/1 bath; Unit 4 (450 SF) 1 bed/1 bath; Unit 5 (1000 SF) 4 bed/1 bath
Current rents are $500–$900 per month
Separate utilities and ample off‑street parking
Built in 1900; frame construction with asphalt roof
Interior features include hardwood floors, storage space, and drywall; appliances include refrigerator and oven/range

Overview

This 5-unit multifamily investment property totals 3,725 square feet and is fully occupied. The tenant mix includes Unit 1 (3 bed/1 bath, 800 square feet), Unit 2 (2 bed/1 bath, 700 square feet), Unit 3 (3 bed/1 bath, 900 square feet), Unit 4 (1 bed/1 bath, 450 square feet), and Unit 5 (4 bed/1 bath, 1,000 square feet). The property is described as well-maintained, with professionally managed operations and regular updates. Separate utilities are noted, along with ample off-street parking.

Located at 501 S University in Mt Pleasant, Michigan, the property sits on a corner lot. The listing notes convenience to public transportation, shopping, and local amenities.

For buyers seeking an operational, income-generating property, this one is offered with leases signed in place through 2027 and current rents listed in the $500 to $900 per month range. The unit mix provides multiple bedroom configurations across the building, which can support steady tenant demand while reducing reliance on a single household type. Buyers who want a turnkey ownership experience can also benefit from the existing management with a stated good track record.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Mt Pleasant
County: Isabella
State: Michigan
Longitude: -84.775108
Latitude: 43.600178

Nearby Similar for Sale

$775,000

9,050 SF

Medical Office Building with Basement

Medical office building with on-site parking and a 12-foot basement, plus cannabis approval.

520 N Mission Street, Mt Pleasant, MI 48858

View Details
$865,000

13,586 SF

Multi-Tenant Executive Office Building

Multi-tenant office building with 27 suites, including leased medical and professional offices and updated HVAC and lighting.

1205 S Mission Street, Mt Pleasant, MI 48858

View Details
$524,900

5,600 SF

7-Unit Apartment Building

Well-maintained 7-unit building with updated interiors, including four two-bedroom and three one-bedroom apartments.

3467 S Summerton Road, Mt Pleasant, MI 48858

View Details
$969,900

13,200 SF

15-Unit Multifamily Apartment Building

15-unit multifamily property with access to key employment and entertainment drivers near major regional transportation.

1019 E Broadway Street, Mt Pleasant, MI 48858

View Details
$219,000

2,605 SF

Downtown Office Building with Basement

Office building configured for multiple work areas, conference space, and a full basement in downtown Mt. Pleasant.

209 E Broadway Street, Mt Pleasant, MI 48858

View Details
$215,000

2,002 SF

Remodeled Downtown Mixed-Use Building

Fully remodeled building with storefront frontage and flexible interior space for retail, office, or mixed-use needs.

309 W Michigan, Mt Pleasant, MI 48858

View Details
$210,000

2,240 SF

Downtown Office Building with Dual Entrances

Office building configured for counseling and professional services, featuring two front entrances and convenient nearby parking.

115 S Franklin, Mt Pleasant, MI 48858

View Details
$550,000

7,000 SF

Industrial Warehouse with Office Space

Industrial warehouse includes shop/warehouse space, office area, multiple overhead doors, and a fenced storage yard.

5776 Venture Way, Mt Pleasant, MI 48858

View Details
$299,000

6,120 SF

Freestanding Commercial Building with Parking

Freestanding 6,120 SF building on a half-acre lot with paved parking and CD-4 zoning for flexible commercial use.

1506 W High, Mt Pleasant, MI 48858

View Details
$329,000

2,400 SF

Residential Income Duplex with Apartment

Two connected living units on an acre, featuring multiple skylights, fireplaces, and an oversized 3-car garage.

8941 S Mission Road, Mt Pleasant, MI 48858

View Details
$1,150,000

1,776 SF

Former Bank Drive-Thru Building

Former bank with drive-thru lanes and executive office space for businesses needing customer-friendly vehicle access.

2015 S Mission Street, Mt Pleasant, MI 48858

View Details
$765,000

4,150 SF

Versatile Commercial Space, Mt. Pleasant

4,000+ sq ft commercial space near Soaring Eagle Casino.

5281 E Pickard Street, Mt. Pleasant, MI 48858

View Details

For sale
Apartment buildings
MI
Mt Pleasant
48858
501 S University

What type of property is this?

Apartment building - Fully leased five-unit property with signed leases through 2027 and separate utilities on a corner lot.

Where is this apartment building located?

The property is located at 501 S University Mt Pleasant, MI.

What is the asking price?

The asking price for this property is $359,900.

What are key features of this property?

This property features: Fully occupied 5‑unit multifamily on a corner lot with leases signed through 2027; Unit mix and sizes: Unit 1 (800 SF) 3 bed/1 bath; Unit 2 (700 SF) 2 bed/1 bath; Unit 3 (900 SF) 3 bed/1 bath; Unit 4 (450 SF) 1 bed/1 bath; Unit 5 (1000 SF) 4 bed/1 bath; Current rents are $500–$900 per month

501 S University, Mt Pleasant, MI 48858

MULTI_FAMILY - Mt Pleasant, MI

Property Features for 501 S University

General Information

Taxes and HOA fees

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Medical Office Building with Basement

Multi-Tenant Executive Office Building

7-Unit Apartment Building

15-Unit Multifamily Apartment Building

Downtown Office Building with Basement

Remodeled Downtown Mixed-Use Building

Downtown Office Building with Dual Entrances

Industrial Warehouse with Office Space

Freestanding Commercial Building with Parking

Residential Income Duplex with Apartment

Former Bank Drive-Thru Building

Versatile Commercial Space, Mt. Pleasant

FAQs