$450,000

115 College Place, Ypsilanti, MI 48197

  • 6 baths |
  • 3,076 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1914
  • Property Lot Size Icon6,242sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $146/sqft
  • Property List Date Icon Listed 5 months ago

Property Description

Investment Opportunity in the Heart of Ypsilanti – 4-Unit Multifamily Welcome to 115 College Place, a well-maintained and updated 4-unit multifamily residence in one of Ypsilanti's most sought-after investment corridors. Located just minutes from Eastern Michigan University and Downtown Ypsi's growing cultural and dining scene, this property presents an outstanding opportunity for both seasoned investors and those entering the multifamily market. Each of the four units is currently leased, generating immediate rental income with long-term upside. The building features numerous capital improvements including a new boiler system, durable vinyl siding, and Trex composite decking that ensures low maintenance and curb appeal. Many units have been updated with fresh finishes, offering clean and functional living spaces while still leaving room for future value-add potential. Tenants enjoy a common secured front entry, shared on-site laundry, and private parking, a rare commodity in the area. The full basement features glass block windows and is prepped for finishing, ideal for additional storage, a shared lounge space, or future expansion. Above, a spacious walk-up attic offers even more room for future development - whether additional units, creative loft space, or enhanced storage options. A detached garage provides extra storage for maintenance tools, seasonal items, or additional revenue possibilities. Located on a quiet, residential street just blocks from EMU, Depot Town, and expressways, this property is in a high-demand rental area with strong tenant retention. All units are occupied; please do not disturb tenants. Private tours are available by appointment only through the listing agent. Whether you're looking to expand your portfolio or secure a cash-flowing property in a vibrant college town, 115 College Place is a rock-solid opportunity with multiple avenues for future growth.

Listing Status:
Active
Date Added:
May 14, 2025 at 05:00AM
Listing Office:
J Dillon Realty : 734-777-4448
Listing Agent:
Joshua Dillon : 734-777-4448
MLS ID:
60394098
  • Appliances: Gas Water HeaterTankless Water Heater
  • Laundry: Common Area
  • Basement: BlockExterior Entry
  • A/C: Ceiling Fan(s)
  • Heating: Radiant
  • Style: Colonial
  • Other Structures: Porch
  • General: Vinyl SidingTwoBasement
  • Road/Access: Paved
  • Golf: Private Entry
  • Originating MLS: MiRealSource
  • School District: Ypsilanti Public School District
  • County: Washtenaw
  • Zoning: *OLD SID - 11 11-170-010-00 YP CITY 20W-12 LOT 10 COLLEGE PLACE ADDITION.
  • Fencing: Fenced
  • Water: Public
  • Source: MiRealSource

This listing courtesy of Joshua Dillon, J Dillon Realty

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

P

Perry Early Learning Center

550 Perry St, Ypsilanti, MI, 48197

Grades PK-1

0.70 miles away

W

Washtenaw International Middle Academy

105 N Mansfield St, Ypsilanti, MI, 48197

Grades 6-8

0.83 miles away

Y

Ypsilanti Community High School

2095 Packard Rd, Ypsilanti, MI, 48197

Grades 9-12

1.22 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.