Ann Arbor Multifamily
For Sale
$1,690,000
320 Koch Ave, Ann Arbor, MI 48103
Six-unit multifamily property in Ann Arbor, fully occupied.
Property Size4,248 SF
Price / SF$397.83
Days on Market194
Property Features for 320 Koch Ave
General Information
Standard status
Active
Size
4,248 SF
Property subtype
Multifamily
Building Details
Building Size
4,248 SF
Year Built
1958
Listing Agency:
Thomas A. Duke Company
Listed By:
James Porth
(248) 760-5805
Source:
Thomasduke
Added: Mar 27
Changed: Oct 4
Last Checked: Oct 5 at 5:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Thomas A. Duke Company
Investment Insights
Based on property information with market context.
Located in Ann Arbor, Michigan, this multifamily property offers an investment opportunity. Constructed in 1958, the building has a total area of 4,248 square feet. The property features six units, all of which are currently occupied. Zoned R4B, the property is positioned as a source of income with future potential. The location provides access to area amenities and attractions. The property is 100% occupied.
Key Highlights
- 100% Occupancy: Demonstrates strong rental demand and immediate income.
- R4B Zoning: Offers promising future potential for development or expansion.
- Prime Location in Ann Arbor, MI: Provides convenient access to amenities and attractions.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,332
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$966,640
$966.6K
Cap Rate 7%
$690,457
$690.5K
Cap Rate 9%
$537,022
$537.0K
Market Conditions
NOI Build-Up for 4,248 SF
Gross rent
$93.3K $21.96/SF
− Vacancy
−$5.4K −$1.27/SF
EGI
$87.9K $20.69/SF
− OpEx
−$39.5K −$9.31/SF
NOI
$48.3K $11.38/SF
Area
Ann Arbor, MI
Vacancy
5.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$966,640
Cap Rate 7%
$690,457
Cap Rate 9%
$537,022
Alternative Uses
Best Use
Apartment 5plus
$690.5K
$604.2K – $805.5K
NOI $48,332 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$938.2K
$820.9K – $1.09M
NOI $65,673 @ 7.0% cap · market cap 3.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,636
Businesses Nearby
Explore this area
Business Placement
Demographics for 48103, MI
55,605
Population
25,511
Households
2.2
Avg Household Size
40
Median Age
75%
College-Educated
97%
High-School Grad
66.5 sq mi
ZIP Area
836
Density / Sq Mi
$115,513
Median Household Income
$65,698
Median Earnings
$1,760
Median Rent
$455,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property in Ann Arbor, fully occupied.
Where is this apartment building located?
The property is located at 320 Koch Ave Ann Arbor, MI.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 100% Occupancy: Demonstrates strong rental demand and immediate income.; R4B Zoning: Offers promising future potential for development or expansion.; Prime Location in Ann Arbor, MI: Provides convenient access to amenities and attractions.
