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    508 W Summit St Ann Arbor, MI 48103

    New
    For Sale
    $755,000

    MULTI_FAMILY - Ann Arbor, MI

    Lot size:
    0.22 Acres
    Days on Market:
    2
    Last Refresh:
    Dec 13 at 3:06 am

    Property Features for 508 W Summit St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 5, Basement, Bedroom 3, Bedroom 2, Bathroom 4, Laundry Room, Bathroom 2, Bedroom 5
    Bedrooms
    5
    APN
    09-09-20-301-002
    Parking
    4
    Basement
    Full
    Lot size
    0.22 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air

    Building Details

    Year built
    1901
    Number of units
    5
    Building materials
    Stucco

    J Keller Properties, LLC (734) 369-8239

    Listing agent Jonathon Keller (734) 323-1072

    Listing date Dec 12, 2025

    MLS# 25016569 Listing URL

    Copyright © 2025 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Ann Arbor Multifamily Investment

    Located on a corner lot in the Water Hill area, this property features a five-unit apartment building. The units are either studios or one-bedroom apartments, each with a full bathroom and kitchen. The property includes driveway parking. A new roof was installed in 2022, and a new laundry center was added in 2024. The monthly rent roll is $6,035, with tenants responsible for utilities via bill back. The lot size is 0.22 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.752826
    Latitude
    42.289228

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    FAQs

    What type of property is this?
    Apartment building - Five-unit apartment building in Water Hill neighborhood with strong rental income.
    Where is this apartment building located?
    The property is located at 508 W Summit St Ann Arbor, MI.
    What is the asking price?
    The asking price for this property is $755,000.
    What are key features of this property?
    This property features: - Strong rental income of $6,035 per month with tenants paying utilities.; - Virtually zero vacancy rate in the desirable Water Hill location.; - New roof installed in 2022.
    (734) 323-1072
    Request Owner's contact information
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    Ann Arbor, MI 48103
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    508 W Summit St Ann Arbor, MI 48103
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