$469,900
Ypsilanti, MI 48197
MLS# 25051296
Status: Active Contingent
1 / 7
Property 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.
Details
Maps
Location Property Info
County: Washtenaw
Street #: 217
Street Direction: N
Street Name: Summit
Suffix: Street
State: MI
Zip Code: 48197
Zip (4): 2775
Area: Ann Arbor/Washtenaw - A
OfficeContract Info
Status: Active Contingent
Current Price: $469,900
List Price: $469,900
Listing Date: 2025-10-02
General Property Info
Lot Measurement: Acres
Lot Square Footage: 8276
Lot Acres: 0.19
Lot Dimensions: 59x140
Year Built: 1910
New Construction: No
Financial Available: Yes
Cert of Compliance: Yes
Road Frontage: 59
Total # Units: 7
# of Diff Unit Floor Plans: 7
Total # Bldgs: 1
Total Parking Spaces: 7
Waterfront: No
School District: Ypsilanti
Tax Info
Tax ID #: 11-11-40-138-023
Taxable Value: 85669
SEV: 226700
For Tax Year: 2025
Seller's Annual Property Tax: 7213.1
Tax Year: 2025
Remarks Misc
Directions: North of Washtenaw South of Michigan Ave
Waterfront Options
Water Access Y/N: No
Access Feat
Accessibility Features: No
Income and Expenses
Annual Insurance: 4848
Annual Maintenance: 500
Annual Utilities: 5766
Gross Op. Inc.: 72600
Operating Expense: 10614
Unit 1
Unit #: 1
Unit Description: 1 bed 1 bath
Occupied: Yes
Monthly Rent: 900
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 2
Unit #: 2
Unit Description: 1 bed 1 bath
Occupied: Yes
Monthly Rent: 950
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 3
Unit #: 3
Unit Description: studio
Occupied: No
Monthly Rent: 750
Bathrooms: 1
Full Baths: 1
Unit 4
Unit #: 4
Unit Description: studio
Monthly Rent: 550
Bathrooms: 1
Full Baths: 1
Unit 5
Unit #: 5
Unit Description: 3 bedroom
Monthly Rent: 550
Bedrooms: 3
Bathrooms: 2
Full Baths: 1
Half Baths: 1
Unit 6
Unit #: 7
Unit Description: garden studio
Monthly Rent: 750
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 7
Unit #: 8
Unit Description: garden studio
Occupied: Yes
Bathrooms: 1
Full Baths: 1
Monthly Rent: 650
Property Features
Laundry Features: Common Area; In Basement
Exterior Material: Block; Stone; Vinyl Siding
Substructure: Daylight; Full
Lot Description: Level; Sidewalk
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at Street: None
Extras: Laundry Facility
Owner Pays: Sewer; Trash Collection; Water
Tenant Pays: Electric
Heat Source: Natural Gas
Heat Type: Steam
Air Conditioning: Window Unit(s)
Driveway: Aggregate; Asphalt
Street Type: Paved
Mineral Rights: Unknown
Terms Available: Cash; Conventional; Land Contract
Possession: Close Of Escrow
Sale Conditions: None
Unit 1: Garb Disp; Range Oven; Refrigerator
Unit 2: Garb Disp; Range/Oven; Refrigerator
Unit 3: Range/Oven; Garb Disp; Refrigerator
Unit 4: Range/Oven; Refrigerator
Unit 5: Range/Oven; Refrigerator
Unit 6: Range/Oven; Refrigerator
Unit 7: Garb Disp; Refrigerator; Range/Oven
Listing Office: Real Estate One Inc
Listing Agent: Michael Lee
Last Updated: January - 05 - 2026
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.