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
For sale
Price cut: $30K (7/27)
$329,900
501 S University Ave, Mount Pleasant, MI 48858
--beds
--baths
3,725sqft
Multi Family
Built in 1900
-- sqft lot
$302,900 Zestimate®
$89/sqft
$-- HOA
What's special
Ample off-street parkingCorner lotFunctional layouts
- 320 days
- 39
- 0
Zillow last checked:
Listing updated:
Listed by:
Mike Henkel,
THE BRAVADO REALTY 989-404-0000
Source: NGLRMLS,MLS#: 1940950
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: $89/sqft
- Tax assessed value: $94,348
- Price range: $329.9K - $329.9K
- Date on market: 12/3/2025
- Cumulative days on market: 321 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
$302,900
$288,000 - $318,000
$861/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/19/2026 | Listing removed | $820 |
Source: Zillow Rentals Report a problem | ||
| 7/27/2026 | Price change | $329,900-8.3%$89/sqft |
Source: | ||
| 5/21/2026 | Price change | $359,900-4%$97/sqft |
Source: | ||
| 3/16/2026 | Listed for rent | $820 |
Source: Zillow Rentals Report a problem | ||
| 12/3/2025 | Listed for sale | $375,000+15.4%$101/sqft |
Source: | ||
| 4/26/2023 | Listed for sale | $324,900+18.2%$87/sqft |
Source: | ||
| 11/13/2021 | Listing removed | $274,900$74/sqft |
Source: | ||
| 5/14/2021 | Listed for sale | $274,900$74/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax 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.Climate risks
Neighborhood: 48858
Nearby schools
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.









