111 Adams Ave, Ann Arbor, MI 48104

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Building Details:

• Year Built: 1913

Rare and very secure investment opportunity. 1st time offered in 50 yrs (seller retiring, has owned all since the 60s). 7 adjacent well-maintained westside/campus rental homes offered as a group. All rented for remainder of 2011-12 school year & re-rented for 2012-13. Updated kitchens, good roofs & furnaces, all appliance including washers/dryers. Good parking (street front plus rear alley). $12,250/mo income plus 3 garages rented for addit. $900/mo rent. Tenants pay all utilities. Owner will provide new C.O.s and will warrant all furnaces/roofs/appliances for 1 year. Land contract terms available to qualified purchaser: 20% down payment, 30 year amortization, 5 year balloon. Priced to sell at 8.75 GRM. Call listing agent for detailed proforma. Adjacent 2 houses with large outbuildings also available.