Fully Occupied Investment
For Sale
$329,900
501 S University, Mount Pleasant, MI 48858
Five-unit multifamily property with long-term tenants and stable cash flow.
Property SizeContact for details
Days on Market188
Property Features for 501 S University
General Information
Standard status
Active
Property subtype
Investment
Building Details
Year Built
1900
Units
5
Listing Agency:
THE BRAVADO REALTY
Listed By:
Mike Henkel · License #6502431250
(989) 404-0000
Source:
Elliman
Added: Apr 24
Changed: Oct 25
Last Checked: Oct 28 at 10:23AM
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 THE BRAVADO REALTY
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Investment Insights
Based on property information with market context.
This fully occupied 5-unit multifamily property is situated on a corner lot. The property has a strong rental history with long-term tenants, providing consistent cash flow. Each unit is well-maintained with functional layouts. The property has been professionally managed and regularly updated. Additional features include separate utilities and off-street parking. The location is near public transportation, shopping, and local amenities. The property includes the following units: Unit 1 is 800 square feet with 3 beds and 1 bath; Unit 2 is 700 square feet with 2 beds and 1 bath; Unit 3 is 900 square feet with 3 beds and 1 bath; Unit 4 is 450 square feet with 1 bed and 1 bath; Unit 5 is 1000 square feet with 4 beds and 1 bath. Rents are currently between $500 and $900 per month. Leases are signed in place until 2027. The bike score is 71, indicating it is very bikeable, and the walk score is 89, indicating it is very walkable.
Key Highlights
- Fully Occupied with Leases in Place Until 2027, ensuring immediate and stable cash flow.
- Professionally Managed with a Proven Track Record, minimizing owner involvement.
- Prime Corner Lot Location offers excellent visibility.
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
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Business Placement
Demographics for 48858, MI
41,844
Population
19,396
Households
2.2
Avg Household Size
30
Median Age
37%
College-Educated
93%
High-School Grad
174.4 sq mi
ZIP Area
240
Density / Sq Mi
$48,794
Median Household Income
$22,775
Median Earnings
$862
Median Rent
$168,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit multifamily property with long-term tenants and stable cash flow.
Where is this apartment building located?
The property is located at 501 S University Mount Pleasant, MI.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Fully Occupied with Leases in Place Until 2027, ensuring immediate and stable cash flow.; Professionally Managed with a Proven Track Record, minimizing owner involvement.; Prime Corner Lot Location offers excellent visibility.
