This Multifamily Property is Off-Market.

210 North Washington
Ypsilanti, MI 48197 ·

16 Units · Multifamily For Sale

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Washington Place

Price N/A Commission Split 6%
No. Units 16 Cap Rate 12.20%
Building Size 11,059 SF Gross Rent Multiplier 4.80
Property Type Multifamily Lot Size 0.45 AC
Property Sub-type Garden/Low-Rise APN / Parcel ID 11 11-441-334-00
Property Use Type Investment
Listing ID: 18626248 Date Created: 03/26/2014 Last Updated: 10/16/2014

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.

Research

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

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