501 WASHTENAW Road Active

Ypsilanti,MI 48197 3239

$ 400000

- Bed

4 Baths

2506 SqFt


Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,506 sqft

Price per Sqft $159

Subdivision Mi

MLS Listing ID 60368547

Full Baths 4

Year Built 1884

Annual Tax Amount $13,082

Lot Dimensions 60.00 x 185.00

Property Sub-Type Multi-Family

Property Description

***Turn-Key Investment Property On Eastern Michigan University’s Campus! This exceptional duplex, zoned R-3, offers incredible income potential just steps from Eastern Michigan University's campus. Lower unit offers 4 bedrooms and 2 full bathrooms, while the upstairs units has 3 bedrooms and 2 full bathrooms making it ideal for student housing or multi-family living. The property features newer shingles, exterior paint, updated mechanicals, plumbing, electric circuit panels, and a newer boiler, ensuring low-maintenance ownership. Enjoy the charm of the large wraparound front porch and the convenience of a generous lot with ample parking spaces. The Certificate of Occupancy is current, and the units are already income-producing. For investors seeking to maximize returns, this property offers room to expand with the potential to add a studio to 2 bedroom that could rent for ~ $1,100/month+ on the third level. Ultimately this property is in a prime location. You will find that it is walking distance to Downtown Ypsilanti, Depot Town, and EMU Campus. A short drive to the University of Michigan, Downtown Ann Arbor, and St. Joseph's & U-M Hospitals as well as easy access to I-94 and US-23 and M-14 for effortless commuting. The cherry on the cake is that it is surrounded by local amenities, parks, shopping, and dining. This property is a rare find with immediate cash flow and long-term potential.

Location

State MI

County Washtenaw

Area Ypsilanti (81033)

Zoning Multi-Family

Rooms

Basement MI Basement

Interior

Heating Hot Water

Fireplace No

Exterior

Exterior Feature Other

Building

Water Public Water

Structure Type Other

Schools

School District Ypsilanti Public School District

Others

Ownership Private

Energy Description Natural Gas

Financing Cash

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