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$ 400,000
Est. payment /mo
Open Sat 2PM-4PM
501 WASHTENAW Road Ypsilanti, MI 48197 3239
4 Baths
2,506 SqFt
OPEN HOUSE
Sat May 17, 2:00pm - 4:00pm
UPDATED:
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. The lower unit offers 4 bedrooms and 2 full bathrooms, while the upstairs unit has 3 bedrooms and 2 full bathrooms—making it ideal for student housing, multi-family living, or even owner-occupancy. You could make the lower unit your primary homestead and live affordably while generating income from the upper unit. 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 upper unit is already income-producing. For investors seeking to maximize returns, this property offers room to expand with the potential to add a studio to 1-bedroom unit on the third level that could rent for ~$1,100/month or more. Ultimately, this property is in a prime location—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, US-23, and M-14 for effortless commuting. The cherry on the cake: it’s surrounded by local amenities, parks, shopping, and dining. This property is a rare find with immediate cash flow and long-term potential.This property is a rare find with immediate cash flow and long-term potential. Open House Saturday. Showings begin Sunday.
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
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by @properties Christies Intl RE Ann Arbor