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For sale
  • Price cut: $15.1K (5/21)
    $359,900

    501 S University Ave, Mount Pleasant, MI 48858

    --beds
    --baths
    3,725sqft
    : 
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    Multi Family
    Built in 1900
    -- sqft lot
    $347,900 Zestimate®
    $97/sqft
    $-- HOA

    What's special

    Ample off-street parkingCorner lotFunctional layouts
    Fully Occupied 5-Unit Investment Property on a Corner Lot with Proven Rental History. Fully leased until 2027, with management with good track record in place! Exceptional investment opportunity! This fully occupied 5-unit multifamily property sits proudly on a prime corner lot, offering excellent visibility and curb appeal. With a strong rental history and stable, long-term tenants, this property delivers consistent cash flow and minimal vacancy. Each unit is well-maintained and thoughtfully designed, featuring functional layouts that attract and retain quality renters. The property has been professionally managed and regularly updated, ensuring low maintenance costs and tenant satisfaction. Additional highlights include separate utilities, ample off-street parking, and a convenient location close to public transportation, shopping, and local amenities. Whether you’re a seasoned investor or looking to expand your portfolio, this turnkey property offers immediate income and long-term growth potential. Don’t miss your chance to own a solid, income-producing asset in a desirable neighborhood! Unit 1 800 square foot 3 bed 1 bath Unit 2 700 square foot 2 bed 1 bath Unit 3 900 square foot 3 bed 1 bath Unit 4 450 square foot 1 bed 1 bath Unit 5 1000 square foot 4 bed 1 bath Rents Currently $500-$900 per month Leases are signed in place until 2027
    229 days
    |
    34
    |
    2
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Mike Henkel,

    THE BRAVADO REALTY 989-404-0000

    Source: NGLRMLS,MLS#: 1940950MLS Logo

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      Facts & features

      Interior

      Heating
      • Forced Air, Hot Water, Natural Gas
      Cooling
      • Window Unit(s)
      Appliances
      • Included: Refrigerator, Oven/Range
      Features
      • Storage, Drywall, Cable TV, High Speed Internet, DSL, WiFi
      • Flooring: Hardwood
      • Basement: Partial,Michigan Basement
      • Has fireplace: No
      • Fireplace features: None
      Interior area
      • Total structure area: 3,725
      • Total interior livable area: 3,725 sqft

      Property

      Parking
      • Parking features: Detached
      Accessibility
      • Accessibility features: None
      Features
      • Levels: Two
      • Stories: 2
      • Exterior features: None
      • Has spa: Yes
      • Waterfront features: None
      Lot
      • Size: 7,840 Square Feet
      • Dimensions: 70 x 115
      Details
      • Additional structures: None
      • Parcel number: 170000205200
      • Zoning description: Multi-Family
      • Other equipment: Dish TV, TV Antenna

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Multi Family
      • Attached to another structure: Yes
      Materials
      • Frame, Vinyl Siding
      • Foundation: Block
      • Roof: Asphalt
      Condition
      • New construction: No
      • Year built: 1900

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public

      Community & HOA

      Community
      • Features: None, Pets Allowed
      • Security: Smoke Detector(s)
      • Subdivision: N/A
      Location
      • Region: Mount Pleasant

      Financial & listing details

      • Price per square foot: $97/sqft
      • Tax assessed value: $94,348
      • Price range: $359.9K - $359.9K
      • Date on market: 12/3/2025
      • Cumulative days on market: 229 days
      • Listing agreement: Exclusive Right To Sell
      • Listing terms: Conventional,Cash,FHA,VA Loan,1031 Exchange
      • Ownership type: Private Owner
      • Lease term: 12 Months

        Estimated market value

        $347,900

        $331,000 - $365,000

        $1,433/mo

        Price history

        DateEventPrice
        5/21/2026Price change$359,900-4%$97/sqft
        Source: NGLRMLS #1940950 Report a problem
        3/16/2026Listed for rent$820
        Source: Zillow Rentals Report a problem
        12/3/2025Price change$375,000+15.4%$101/sqft
        Source: NGLRMLS #1940950 Report a problem
        4/26/2023Listed for sale$324,900+18.2%$87/sqft
        Source: NGLRMLS #1910310 Report a problem
        11/13/2021Listing removed$274,900$74/sqft
        Source: NGLRMLS #1887359 Report a problem
        5/14/2021Listed for sale$274,900$74/sqft
        Source: NGLRMLS #1887359 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025-- $122,900 -1%
        2024$5,656 $124,100 +4%
        2023-- $119,300 +4%
        2022-- $114,700 +28.6%
        2021-- $89,200 +4.9%
        2020-- $85,000 +8.6%
        2018$4,840 $78,300 +1%
        2017$4,840 +16.5%$77,500 +0.8%
        2016$4,155 $76,900 +0.8%
        2015-- $76,300 +5.4%
        2014-- $72,400
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: 48858

        Getting around

        86 / 100
        Very Walkable
        70 / 100
        Very Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • District: Mount Pleasant City School District

        Source: NGLRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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