210 North Washington, Ypsilanti, MI, 48197 - Available for Sale

Multifamily For Sale

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Washington Place

210 North Washington, Ypsilanti, MI 48197

$595,000

16 Units | Multifamily

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Multifamily Property For Sale

Price:
$595,000
No. Units:
16
Building Size:
11,059 SF
Price/Unit:
$37,187.50
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
6%
Cap Rate:
12.20%
Gross Rent Multiplier:
4.80
Occupancy:
100%
Lot Size:
0.45 AC
APN / Parcel ID:
11 11-441-334-00
Listing ID
18626248
Last Updated
5 days ago

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Description

Washington Place is a historic 16 unit apartment building near downtown Ypsilanti and Eastern Michigan University. There are also 2 historic barns on the property that rent for $250/mo. Coin laundry in basement. Rent Roll exceeds $11,000 per month. Extensive renovations include new hot water boiler, refinished hardwood flooring, and the remodeling of ever unit since 2011. Property is also known as 206 N. Washington. Property includes 2 parking areas in which there are 16 spots. Floor plans of each apartment area available upon request.

Washington Place is located near downtown Ypsilanti, Depot Town in Ypsilanti, and Eastern Michigan University. Prime student housing and young professional area.

Financial Summary

  • Actual
  • $76,250

Map of 210 North Washington, Ypsilanti, MI 48197 (Washtenaw County)

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Asking Price Index Trends for Ypsilanti, MI Multifamily For Sale

  Aug 14 vs. 3 mo.
prior
Y-O-Y
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State
$30,029+2.4%+9.8%

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Washington Place
  • Multifamily
  • $595,000
  • 16 Units
  • 11,059 SF