508 W Summit Street Ann Arbor, MI ^$ 755,000

508 W Summit Street

^$ 755,000

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508 W Summit Street

Ann Arbor, MI, 48103

^$ 755,000

Studio Baths0.0

Monthly Estimate*

^$ 4,710

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Studio

Multi-Family Home for sale in Ann Arbor, MI

for $755,000. This home was built in 1901 on a lot size of 0.22.

Perched atop a corner lot in the always desirable Water Hill, sits this 5 unit apartment building. With strong rents and virtually zero vacancy, this investment features not just location, but some big ticket updates- including a new roof (2022) and new laundry center (2024). All units are either studios or 1 bedroom and all have a full bathroom and kitchen. Driveway parking. Monthly rent roll is $6,035 with tenants paying utilities via bill back. A great investment opportunity.

Multi-Family Active

Price

^$ 755,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 18,744

Style

5+ Units

Lot Size

0.22

Year Built

1901

Town/City

Ann Arbor

County/Region

Washtenaw

MLS | Web ID

25016569

Features

General

Heating Forced Air

Cooling None

Utilities Cable Available Cable Connected

Possession Close Of Escrow

Construction Materials Stucco

Year Built 1901

Tenant Pays Electric Water Trash Sewer Gas

Township Ann Arbor

Property Subtype 5+ Units

Tax Year 2025

Ownership Private Owned

County Washtenaw

New Construction N

Property Type Multi Family

Status Active

Directions Summit at Spring.

City Ann Arbor

High School District Ann Arbor

Zoning Description R2A

Number Of Units Total 5

MLS Area Ann Arbor/Washtenaw - A

Lot Size Units Acres

Lot Size Square Feet 9496.0

Listing Terms Cash Conventional

Land Lease Y/N N

Tax Annual Amount 18744.0

Lease Renewal Y/N N

MLS Area Minor Ann Arbor/Washtenaw - A

Additional Parcels Y/N N

Rent Control Y/N N

Standard Status Active

Occupancy Type Tenant

Tax Assessed Value 278163

Senior Community None

Interior

Basement Full

Basement (Y/N) Y

Air Conditioning Y/N N

Heating Y/N Y

Laundry Features Common Area In Basement Laundry Room

Total Baths 0

Exterior

Lot Features Sidewalk

Total Parking 4.0

Lot Size Area 0.22

Number of Buildings 1

Spa N

Lot Dimensions 82 x 116

Lot Size Acres 0.22

Road Surface Type Paved

Waterfront Y/N N

Crops Included Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 508

* Excluded Features

List By

J Keller Properties, Llc

Broker

Jon@JKellerProperties.com

Affordability Calculator

$6,272

Per Month

Monthly Principal & Interest: $4,710
Monthly Property Taxes: $1,562
Monthly Home Insurance: --

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Down Payment

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Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Ann Arbor, MI

Average List Price ^$1,467,000

Percent of Sale Price 94%

About Ann Arbor, MI

119,763 Population

5% Since 2002

^$64,208 Median Income

30.65 Median Age

18% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4385217 Elementary School

4385218 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
6/2/2025	$755,000	-2.58%	Price Down
5/12/2025	$775,000	-2.52%	Price Down
4/21/2025	$795,000		Listed Price

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508 W Summit Street, Ann Arbor, MI, 48103 is a Multi-Family Home for sale at $755,000 with a lot size of 0.22. 508 W Summit Street is a studio with 0.0 baths and was built in 1901. The property's zip code is 48103 which is in Ann Arbor, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of MichRIC, LLC

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of MichRIC, LLC. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors include the name of the listing brokers.

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Information Deemed Reliable But Not Guaranteed

Data is updated as of 12/15/2025.

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508 W Summit Street

Multi-Family Home for sale in Ann Arbor, MI

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