217 N Summit Street
Ypsilanti, MI 48197

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Description

Investors take note of this 7 Unit Income property in Ypsilanti steps from the Eastern Michigan Campus. Over $72,000 in gross rental income, $11,114 in expenses. Separate electric for units. Current insurance is $4848.00. Updates in the last 4 years include Roof, Heating system, driveway and parking lot Land Contract terms possible. Awesome Investment opportunity.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family
• Listing Status: Active
• County/Area: Washtenaw County
• Zip Code: 48197
• Year Built: 1910
• School District: Ypsilanti
• Units: 7 units
• Basement: Daylight, Full, Yes, Yes
• # of Parking Spaces: 7
• Lot Size: 8276 sq ft lot
• Annual Utilities: 5766
• Construction Materials: Block, Stone, Vinyl Siding
• Cooling: Window Unit(s)
• Cross Street: Sheridan and Congress
• Directions: North of Washtenaw South of Michigan Ave
• Driveway: Aggregate, Asphalt
• Extras: Laundry Facility
• Financial Available: Yes
• Gross Income: 72600
• Heat Source: Natural Gas
• Heat Type: Steam
• Heating: Steam
• Insurance Expense: 4848
• Laundry Features: Common Area, In Basement
• Lot Description: Level, Sidewalk
• Lot Features: Level, Sidewalk
• Lot Size Area: 0.19
• Lot Size Square Feet: 8276
• Lot Size Units: Acres
• MLS Area Major: Ann Arbor/Washtenaw - A
• MLS Area Minor: Ann Arbor/Washtenaw - A
• Main Type: Multi Family
• Maintenance Expense: 500
• Number Of Buildings: 1
• Number Of Diff Unit Floor Plans: 7
• Operating Expense: 10614
• Owner Pays: Sewer, Trash Collection, Water
• Ownership: Private Owned
• Parcel Number: 11-11-40-138-023
• Parking Features: Aggregate, Asphalt
• Possession: Close Of Escrow
• Road Frontage: 59
• Road Surface Type: Paved
• SEV: 226700
• Sewer: Public Sewer
• Street Type: Paved
• Tax Annual Amount: 7213.1
• Tax Legal Description: *OLD SID - 11 11-175-056-00 YP CITY 21W-79 LOT 56 EXCEPT N 7 FT CROSS & BAGLEY'S ADDITION.
• Tax Year: 2025
• Tenant Pays: Electricity
• Terms Available: Cash, Conventional, Land Contract
• Township: Ypsilanti City
• Utilities: Cable Connected, Natural Gas Connected, Phone Connected, Electricity Connected
• Water Access: No
• Water Source: Public