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$ 500,000
Est. payment /mo
New
115 COLLEGE Place Ypsilanti, MI 48197
6 Baths
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Ypsilanti City
Subdivision Ypsilanti City
MLS Listing ID 20250034364
HOA Y/N true
Originating Board Realcomp
Year Built 1914
Annual Tax Amount $7,757
Lot Dimensions 52.00 x 120.00
Property Description
Investment Opportunity in the Heart of Ypsilanti – 4-Unit MultifamilyWelcome to 115 College Place, a well-maintained and updated 4-unit multifamily residence in one of Ypsilanti's most sought-after investment corridors. Located just minutes from Eastern Michigan University and Downtown Ypsi's growing cultural and dining scene, this property presents an outstanding opportunity for both seasoned investors and those entering the multifamily market.Each of the four units is currently leased, generating immediate rental income with long-term upside. The building features numerous capital improvements including a new boiler system, durable vinyl siding, and Trex composite decking that ensures low maintenance and curb appeal. Many units have been updated with fresh finishes, offering clean and functional living spaces while still leaving room for future value-add potential.Tenants enjoy a common secured front entry, shared on-site laundry, and private parking, a rare commodity in the area. The full basement features glass block windows and is prepped for finishing, ideal for additional storage, a shared lounge space, or future expansion. Above, a spacious walk-up attic offers even more room for future development—whether additional units, creative loft space, or enhanced storage options.A detached garage provides extra storage for maintenance tools, seasonal items, or additional revenue possibilities. Located on a quiet, residential street just blocks from EMU, Depot Town, and expressways, this property is in a high-demand rental area with strong tenant retention.All units are occupied; please do not disturb tenants. Private tours are available by appointment only through the listing agent.Whether you're looking to expand your portfolio or secure a cash-flowing property in a vibrant college town, 115 College Place is a rock-solid opportunity with multiple avenues for future growth.
Location
State MI
County Washtenaw
Area Ann Arbor/Washtenaw - A
Zoning Multi-Family
Direction S. of Washtenaw W of Hamilton
Interior
Heating Radiant
Exterior
Amenities Available Pets Allowed
View Y/N No
Building
Lot Description Sidewalk
Sewer Public
Water Public
Structure Type Vinyl Siding
Schools
School District Ypsilanti
Others
Tax ID 111140430018
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Listed by J Dillon Realty