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$499,900
Est. payment /mo
4,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Contingent
Purchase Type For Sale
Square Footage 4,000 sqft
Price per Sqft $124
Subdivision Mi
MLS Listing ID 70485407
Year Built 1870
Annual Tax Amount $8,700
Tax Year 2024
Lot Size 0.320 Acres
Acres 0.32
Lot Dimensions 98x140
Property Sub-Type Multi-Family
Property Description
Investors do not miss this tremendous value. Located just across the street from Eastern Michigan University. This prime 6 unit apartment building generates over $72,000 of gross rental income with $12,200 of expenses. Current insurance $3400 a year. Separate electric for each unit. Seller pays gas, water and waste management totaling $8,800 a year. Seller has invested over $80,000 dollars in upgrades over the last 12 months including roof and unit updates. Zero vacancy rate over the years. Step right into a generous positive cashflow with this outstanding investment.
Location
State MI
County Washtenaw
Area Ypsilanti (81033)
Rooms
Basement MI Basement
Interior
Heating Forced Air
Exterior
Exterior Feature Aluminum
Building
Foundation Basement, Crawl
Structure Type Aluminum
Schools
School District Ypsilanti Public School District
Others
Energy Description Natural Gas
Financing Cash,Conventional
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Listed by The Charles Reinhart Company