Downtown Multifamily
For Sale
$2,000,000
417 W Liberty St, Ann Arbor, MI 48103
Built in 1962, this 8-unit multifamily property includes 12 parking spaces and is zoned R4C.
Property Size5,776 SF
Price / SF$346.26
Days on Market142
Property Features for 417 W Liberty St
General Information
Standard status
Active
Size
5,776 SF
Total Parking Spaces
12
Property subtype
Multifamily
Zoning
R4C
Additional Details
Multifamily Units
8
Building Details
Year Built
1962
Listing Agency:
Altitude Commercial Real Estate
(248) 356-8000
Listed By:
George Abro · License #6502432561
(248) 356-8000
Source:
Cpix.resimplifi
Added: Mar 17
Changed: Jul 22
Last Checked: Aug 5 at 4:02AM
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 Altitude Commercial Real Estate
Investment Insights
Based on property information with market context.
This 5,776 SF multifamily property was built in 1962 and offers 8 residential units. The building is zoned R4C and includes 12 parking spaces, with the additional note of potential for a 9th unit.
Located downtown in Ann Arbor, the property is described as convenient to nearby amenities and attractions.
For buyers looking for a value-add approach, the offering highlights that rents are currently below market levels.
Located downtown in Ann Arbor, the property is described as convenient to nearby amenities and attractions.
For buyers looking for a value-add approach, the offering highlights that rents are currently below market levels.
Key Highlights
- 5,776 SF multifamily building with 8 units
- Built in 1962
- Zoned R4C
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $126.8k | $21.96 |
| − Vacancy | −$7.4k | −$1.27 |
| EGI | $119.5k | $20.69 |
| − OpEx | −$53.8k | −$9.31 |
| NOI | $65.7k | $11.38 |
5,776 SF · lease $21.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$938.8K
$821.5K – $1.10M
NOI $65,716 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,296 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,184
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1962, this 8-unit multifamily property includes 12 parking spaces and is zoned R4C.
Where is this apartment building located?
The property is located at 417 W Liberty St Ann Arbor, MI.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 5,776 SF multifamily building with 8 units; Built in 1962; Zoned R4C
