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.
Each of the four units is 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.
All 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.
Pending
Price cut: $25K (5/28)
$475,000
115 College Pl, Ypsilanti, MI 48197
4beds
3,076sqft
Est.:
Multi Family
Built in 1914
-- sqft lot
$446,500 Zestimate®
$154/sqft
$-- HOA
What's special
Fresh finishesFunctional living spaces
- 70 days
- on Zillow |
- 164 |
- 6 |
Zillow last checked: 7 hours ago
Listing updated: July 17, 2025 at 06:37am
Listed by:
Joshua A Dillon 734-777-4448,
J Dillon Realty 734-777-4448
Source: Realcomp II,MLS#: 20250034364

Travel times
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
- Full bathrooms: 6
Heating
- Natural Gas, Radiant
Cooling
- Ceiling Fans
Appliances
- Laundry: Laundry Room
Features
- Entrance Foyer, Programmable Thermostat
- Basement: Bath Stubbed,Full,Unfinished,Walk Up Access
- Has fireplace: No
Interior area
- Total interior livable area: 3,076 sqft
- Finished area above ground: 3,076
Video & virtual tour
Property
Parking
- Total spaces: 1
Features
- Levels: Two
- Stories: 2
- Patio & porch: Porch
- Exterior features: Lighting, Private Entrance
- Pool features: None
- Fencing: Fenced
Lot
- Size: 6,240 Square Feet
- Dimensions: 52.00 x 120.00
Details
- Parcel number: 111140430018
- Zoning description: MultiFamily
- Special conditions: Short Sale No,Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Colonial
- Property subtype: Multi Family
Materials
- Vinyl Siding
- Foundation: Basement, Block, Sump Pump
Condition
- New construction: No
- Year built: 1914
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Above Ground Utilities
Community & HOA
Community
- Features: Sidewalks
- Security: Carbon Monoxide Detectors, Smoke Detectors
- Subdivision: COLLEGE PLACE ADD
Location
- Region: Ypsilanti
Financial & listing details
- Price per square foot: $154/sqft
- Tax assessed value: $93,969
- Annual tax amount: $7,757
- Date on market: 5/14/2025
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional,FHA,Va Loan
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