1540 Packard St, Ann Arbor City Washtenaw, MI 48104

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