210 North Washington
Ypsilanti, MI 48197 ·
16 Units · Multifamily For Sale
|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|
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.
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