For Sale
507 E Ann Street, Ann Arbor, MI 48104
$3,450,000
MLS # 26035677 (Michigan Regional Information Center (MichRIC))
7 unitsBuilt 19010.11 acres
1 / 3
Listing Description
Rare opportunity to acquire a fully renovated multifamily asset in the heart of the highly desirable Kerrytown district of Ann Arbor. Located at 507 E Ann Street, the property consists of 7 units with a total of 15 beds and 6 on-site parking spaces, offering a diverse unit mix that includes both one-bedroom apartments and larger multi-bedroom layouts. Extensive renovations have been completed throughout the property, including new plumbing, electrical, insulation, and storm windows, creating a turnkey investment opportunity with strong long-term appeal. Interior nishes feature quartz countertops, custom cabinetry, and consistent high-end nishes throughout all units, providing a cohesive and modern tenant experience. Positioned within walking distance to the University of Michigan, Kerrytown Market, downtown restaurants, retail, and entertainment, the property is ideally located for strong tenant demand and long-term rental stability.
Source: SparkMLS
About this home
Currently offered at $3,450,000.
Annual property taxes run approximately $20,451 ($1,704/month). Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Electric service is provided by DTE Electric Company; natural gas by DTE Gas Company.
Listing Property Details
Property TypeMulti Family
Property Subtype5+ Units
Bathrooms0
Lot Size0.11 acres
Year Built1901
Location
CityAnn Arbor
MunicipalityAnn Arbor
Zip Code48104
CountyWashtenaw
School DistrictAnn Arbor
Construction & Systems
ConstructionAluminum Siding
BasementFull
HeatingForced Air
SewerPublic Sewer
UtilitiesNatural Gas Connected, Electricity Connected, Cable Connected
Sale & Financing
Listed7/12/2026
Terms AcceptedCash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$20,451
Tax Year2025
Assessed Value$741,802
Parcel #09-09-29-105-004
Source: SparkMLS
Legal Description
E 1/2 LOT 5 AND W 9 FT LOT 6 PLAT OF G WILCOXSON LAND
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLHistoric District: Ann Street Historic District
Exterior changes may require Historic District Commission (HDC) approval
Source: Ann Arbor Historic District CommissionHistoric District: Old Fourth Ward Historic District
Exterior changes may require Historic District Commission (HDC) approval
Source: Ann Arbor Historic District CommissionUSDA Rural Development: Eligible — 0% Down Payment Available
Verify eligibility at USDAListed by George Abro
Altitude Commercial Real Estat
Frequently Asked Questions about 507 E Ann Street, Ann Arbor, MI 48104
Which school district serves 507 E Ann Street, Ann Arbor, MI 48104?
Per MLS# 26035677, 507 E Ann Street, Ann Arbor, MI 48104 is in the Ann Arbor boundaries. School district assignments are determined by property location and may differ from the mailing city. Contact Ann Arbor directly to confirm enrollment eligibility.
Can I use FHA or VA financing for this property?
Per MLS# 26035677, this listing accepts Cash, Conventional financing. Financing acceptance is subject to change — confirm with the listing agent.
What are the property taxes at 507 E Ann Street, Ann Arbor, MI 48104?
Per public tax records, annual property taxes for this property are $20,451 (2025). Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Can I use a USDA Rural Development loan for this property?
Per USDA Rural Development boundary data, 507 E Ann Street, Ann Arbor, MI 48104 is in an eligible area. USDA RD loans offer 0% down payment for qualified buyers. Verify current eligibility at the USDA eligibility site, as boundaries are updated periodically.
Is 507 E Ann Street, Ann Arbor, MI 48104 in a flood zone?
Per FEMA flood maps, this property is designated as Zone X, a minimal-risk flood area. Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Is 507 E Ann Street, Ann Arbor, MI 48104 in a historic district?
Per municipal ordinance records, this property is within the Ann Street Historic District. Exterior changes to properties in locally-designated historic districts typically require approval from the Historic District Commission. Verify current requirements with the local HDC.
What utilities serve 507 E Ann Street, Ann Arbor, MI 48104?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE Gas Company. Sewer: Public Sewer. Confirm service details directly with providers.
What is the crime rate in this area?
For crime and public safety data, we recommend inquiring directly with the source. Washtenaw County is served by CLEMIS (Courts and Law Enforcement Management Information System), which provides public safety data for Southeast Michigan law enforcement agencies.
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Monthly payment$22,377
Principal & interest$22,377
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
DTE Electric Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
507 E Ann Street, Ann Arbor, MI 48104
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Municipality
Downtown Ann Arbor
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County
Washtenaw County
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