115 College Place
Ypsilanti, MI 48197

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Description

Investment Opportunity in the Heart of Ypsilanti – 4-Unit MultifamilyWelcome 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.Three of the four units are 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.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.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family Home
• Listing Status: Active
• County/Area: Washtenaw County
• Zip Code: 48197
• Year Built: 1914
• Subdivision/Neighborhood: Ypsilanti City
• School District: Ypsilanti
• Basement: Yes
• Lot Size: 6098 sq ft lot
• Association: Yes
• Association Amenities: Pets Allowed
• Construction Materials: Vinyl Siding
• Directions: S. of Washtenaw W of Hamilton
• Extras: Laundry Facility
• Gross Income: 51900
• Heat Source: Natural Gas
• Heating: Radiant
• Lot Features: Sidewalk
• Lot Size Area: 0.14
• Lot Size Square Feet: 6098.4
• Lot Size Units: Acres
• MLS Area Major: Ann Arbor/Washtenaw - A
• MLS Area Minor: Ann Arbor/Washtenaw - A
• Main Type: Multi Family
• Operating Expense: 13343.9
• Parcel Number: 111140430018
• Road Frontage: 52
• SEV: 192700
• Street Type: Paved
• Tax Annual Amount: 7882
• Tax Legal Description: *OLD SID - 11 11-170-010-00 YP CITY 20W-12 LOT 10 COLLEGE PLACE ADDITION.
• Total Approx Sq Ft All Bldgs: 3076
• Total Num Units: 4
• Township: Ypsilanti City
• Water Source: Public