Fully Leased 5-Unit
For Sale
$329,900
501 S University, Mt Pleasant, MI 48858
MULTI_FAMILY - Mt Pleasant, MI
Property Size3,725 SF
Lot Size0.18 Acres
Price / SF$88.56
Days on Market263
Property Features for 501 S University
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
Multi-Family
Zoning description
Multi-Family
Interior features
Hardwood Floors, Storage Space, Drywall
Appliances
Refrigerator, Oven/Range, Smoke Alarms
Elementary school district
Mount Pleasant City School District
Middle school district
Mount Pleasant City School District
High school district
Mount Pleasant City School District
Directions
From High street, North onto S University, on corner of University and E Locust
Subdivision
Isabella
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
Legal 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
Listing Agency:
THE BRAVADO REALTY
(989) 404-0000
Listed By:
Mike Henkel · License #6502431250
(989) 404-0000
Added: Dec 3, 2025
Changed: Jul 27
Last Checked: Aug 23 at 10:06AM
MLS# 1940950
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.
Investment Insights
Based on property information with market context.
This fully occupied five-unit multifamily property offers stable, long-term tenancy with leases signed through 2027. The building is situated on a corner lot and is described as professionally managed, regularly updated, and maintained. A practical feature for operations is separate utilities for the units.
The property includes five distinct residences: Unit 1 is a 3-bedroom, 1-bath with approximately 800 square feet; Unit 2 is a 2-bedroom, 1-bath with approximately 700 square feet; Unit 3 is a 3-bedroom, 1-bath with approximately 900 square feet; Unit 4 is a 1-bedroom, 1-bath with approximately 450 square feet; and Unit 5 is a 4-bedroom, 1-bath with approximately 1,000 square feet. Off-street parking is available.
Located in Mt. Pleasant, Michigan, the offering is presented as convenient to public transportation, shopping, and local amenities.
The property includes five distinct residences: Unit 1 is a 3-bedroom, 1-bath with approximately 800 square feet; Unit 2 is a 2-bedroom, 1-bath with approximately 700 square feet; Unit 3 is a 3-bedroom, 1-bath with approximately 900 square feet; Unit 4 is a 1-bedroom, 1-bath with approximately 450 square feet; and Unit 5 is a 4-bedroom, 1-bath with approximately 1,000 square feet. Off-street parking is available.
Located in Mt. Pleasant, Michigan, the offering is presented as convenient to public transportation, shopping, and local amenities.
Key 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
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,023
Businesses Nearby
Explore this area
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
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 - Fully occupied five-unit investment property with separate utilities, off-street parking, and leases in place through 2027.
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 $329,900.
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
