115 College Place, Ypsilanti City, MI 48197
COLLEGE PLACE ADD · Washtenaw County
Key Facts
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. All 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.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Style
Colonial
Year Built
1914
Living Area
3,076 sq ft
Lot Size
0.14 acres
Lot Dimensions
52.00 x 120.00
Parking Spaces
6
Days on Market
72
MLS® Listing#
20261020203
Property Features
Interior
Exterior
Appliances
Cooling
Heating
Basement
Pool
Parking
Laundry
Patio
Fencing
Construction
Foundation
Roof
Security
Community
Sewer
Water Source
Financial Details
Annual Taxes
$7,882
Assessed Value
$96,882
Parcel Number
111140430018
Directions
S. of Washtenaw W of Hamilton
Affordability Calculator
$83,000
Estimated monthly payment
$2,209/mo
Principal $332,000 · Est. interest $463,170 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Ypsilanti City, MI
- $235,226
- Median Listing Price
- 62
- Median Days on Market
- 1,487
- Median Sq Ft
- $136
- Median Price / Sq Ft
- 13,485
- Active Listings
- This home’s price is 76% above the area median.
- Its price per sq ft is right around the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Ypsilanti City, MI.
Location
Getting Around
Points of Interest in Ypsilanti City, MI
Showing the Ypsilanti City area map.
Nearby Schools
Washtenaw Alliance for Virtual Education - Wave
Secondary · 0.3 mi away
Early College Alliance
Secondary School · 0.4 mi away
Ypsilanti Cooperative Preschool
Elementary · 0.5 mi away
Perry Elementary School
Elementary · 0.7 mi away
New Beginnings Academy
School · 0.8 mi away
Washtenaw International High School
Secondary · 0.8 mi away
High Scope Educational Research Foundation
School · 0.8 mi away
Estabrook Elementary
Elementary · 0.9 mi away
WSC Academy
School · 1.0 mi away
Victory Academy
School · 1.0 mi away
Emu Children's Institute
School · 1.0 mi away
Ypsilanti Community Schools
Secondary · 1.1 mi away
Ypsilanti International Elementary School
Elementary · 1.1 mi away
Ypsilanti High School
Secondary · 1.2 mi away
RCTC
School · 1.2 mi away
Ypsilanti Stemm Middle College
Secondary School · 1.2 mi away
Ypsilanti Public School East
School · 1.3 mi away
Washtenaw International High School
Secondary · 1.3 mi away
Washtenaw County Head Start
Elementary · 1.4 mi away
Huron Valley Catholic School
Elementary · 1.6 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 6935 Ternes, Dearborn City, MI | $291,000 | 4 | 2 | 2,120 |
| 203 Pelton Avenue, Coldwater City, MI | $292,000 | 3 | 2 | 1,344 |
| 823 Newgate Road, Kalamazoo City, MI | $292,000 | 4 | 3 | 2,255 |
| 22000 Fresard Street, St Clair Shores City, MI | $292,000 | 3 | 3 | 1,630 |
| 15326 Brookfield Street, Livonia City, MI | $292,250 | 4 | 2 | 1,300 |
| 31240 Regal Drive, Warren City, MI | $292,500 | 3 | 2 | 2,407 |
Moving Cost Estimate
EXIT Agents in Ypsilanti City
Listing Courtesy: J Dillon Realty - 7347774448
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