Additional details

Sandra Walus

walusrs@gmail.com +1(810) 923-4118

$850,000

Est. payment - /mo

3,533 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type MultiFamily

Listing Status Active

Purchase Type For Sale

Square Footage 3,533 sqft

Price per Sqft $240

Subdivision Lower Burns Park

MLS Listing ID 81026056696

Year Built 1938

Lot Size 7,840 Sqft

Acres 0.18

Property Sub-Type MultiFamily

Property Description

**FIRST TIME OFFERED IN A GENERATION!** A rare opportunity to own a substantial, stately brick duplex in Ann Arbor's desirable Lower Burns Park neighborhood, affectionately known as LoBuPa. Lovingly cared for by the same owner for over 30 years, this distinctive property combines enduring architectural character, established rental income, thoughtful recent improvements & compelling long-term potential. An exceptional opportunity for investors, future owner-occupants & buyers seeking flexibility in a prime central Ann Arbor location. **TWO DISTINCTIVE RESIDENCES, TIMELESS CHARACTER & GENEROUS LIVING SPACES!** The vertically stacked duplex features two spacious residences, each with its own kitchen & living areas. The main-level unit offers 2 bedrooms, 2 full baths, an inviting great room, dining area & fabulous sunroom with sliding glass doors opening to the refreshed backyard patio.Upstairs, the expansive 4-bedroom, 2-full-bath residence offers comfortable living & dining spaces and a versatile layout. Original hardwood floors grace many rooms, complemented by abundant natural light, charming architectural details & generously proportioned interiors. **ESTABLISHED INCOME WITH ROOM TO GROW!** Certified by the City of Ann Arbor as a two-unit rental property, with a Certificate of Compliance valid through January 24, 2028, 1540 Packard St offers an established rental configuration with income already in place, and optionality for future use! The main-level residence is occupied by longstanding, renewing tenants under a joint & several lease through August 2027 at $2,100/month, with tenants responsible for utilities other than water. Upstairs, three individually executed 1-year, single bedroom leases beginning August 2026 generate a combined $2,729/month, with utilities included. The fourth upstairs bedroom has been intentionally held vacant to preserve flexibility for a future purchaser, though multiple interested prospective tenants have been readily identified. **CURRENT COMBINED CONTRACTED GR

Location

State MI

County Washtenaw

Area Area04092Annarbor

Rooms

Basement Daylight, Full, Walk Out Access

Interior

Interior Features Storage

Heating Baseboard, Forced Air, Natural Gas

Cooling Window Unit(s)

Fireplace No

Laundry CommonArea, InBasement, InHall, LaundryRoom, SeeRemarks

Exterior

Parking Features Concrete, Garage, Gravel, Unpaved

Community Features Sidewalks

Utilities Available CableConnected, ElectricityConnected, NaturalGasConnected, PhoneAvailable, PhoneConnected, SewerConnected

View Y/N No

Roof Type Other

Building

Sewer Public Sewer, Sewer At Street, Storm Drain

Water Public

New Construction No

Schools

School District Ann Arbor

Others

Acceptable Financing Cash, Contract, Conventional, FHA, MSHDA, Trade1031Exchange, VaLoan

Listing Terms Cash, Contract, Conventional, FHA, MSHDA, Trade1031Exchange, VaLoan

Special Listing Condition Standard

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Listed by Ilana Riback of @properties Christie's Int'lAA

Nearby School & Business

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Sandra Walus

+1(810) 923-4118

Broker Associate MI 6502347609

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1540 Packard ST Ann Arbor, MI 48104

Sandra Walus

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby School & Business

Get More Information