615 Pearl Street
Ypsilanti, MI 48197

Sold 11/16/2015
  • 4,432
    sq.ft.
Multi-Family Home

Investor opportunity with low GRM - All 7-units professionally managed and fully leased. Four units leased until 8/22/16, other three units leased until 4/25/16, 5/31/16, and 6/24/16. Exterior freshly painted. This property is situated on very large 70 x 185 lot with ample parking behind building. Easy walking distance to EMU and downtown. Building completely renovated in 1990s. New furnace in 2003 and 2 new water heaters in 2011. Income and expense based on Sellers pro forma statement.

Property Details
  • Ypsilanti Community
    school district
  • $10,353.00
    taxes
  • 1880
    built
  • 3235611
    MLS#
Parking spaces: 7
Lot acreage is: 0.30
Lot dimension is: 70 X 185
Lot zoned: CN
Units in building(s): 7.00
Courtesy of:
The Charles Reinhart Company
Martha E Smith

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Name Type GreatSchools
Rating
Distance
Erickson Elementary Elementary School / Public 3 2.07 mi.
Estabrook School Elementary School / Public 3 0.91 mi.
Washtenaw International Middle Academy (WIMA) Middle School / Public 8 1.29 mi.
Ypsilanti New Tech High School High School / Public 3 1.26 mi.
W-A-Y Home Washtenaw * High School / Public N/A 0.28 mi.
W-A-Y Washtenaw * High School / Public 4 0.28 mi.
Address Distance Sale date Sale price
615 Pearl Street 0 mi. 11/16/2015 $245,000
702 North CONGRESS Street 0.04 mi. 10/30/2015 $189,900
517 Pearl Street 0.06 mi. 5/2/2017 $168,500
123 College Place 0.1 mi. 4/13/2017 $190,000
508 PEARL Street 0.1 mi. 4/25/2017 $238,950
526 West Michigan Avenue 0.11 mi. 11/7/2017 $207,500
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{"markerType": "Sold", "lat": "42.24249", "lng": "-83.6198", "Address": "508 PEARL Street", "City": "Ypsilanti", "StateProv": "MI", "ZipCode": "48197"}
{"markerType": "Sold", "lat": "42.24041", "lng": "-83.62061", "Address": "526 West Michigan Avenue", "City": "Ypsilanti", "StateProv": "MI", "ZipCode": "48197"}
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615 Pearl Street, Ypsilanti, MI 48197 multi-family home was sold for $245,000.
School ratings are supplied by GreatSchools. School attendance zone boundaries are supplied by Maponics. Both are subject to change.

* indicates a school is in close proximity to this home, but this home is not guaranteed to fall within the school's attendance zone boundaries. Check with the applicable school district prior to making a decision based on these boundaries.