408 N Hamilton St Ypsilanti, MI 48197
Investment opportunity: stable income, long-term tenants, desirable location.
Lot size:
0.14 AcresProperty Features for 408 N Hamilton St
General Information
- Property type
- Investment
- Standard status
- Pending
- Lot size
- 0.14 Acres
Building Details
- Year built
- 1929
Source:
Elliman
Listing Agency: RE/MAX Complete Listing Agent: Eric Miller
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Fully Occupied Triplex Near EMU
This fully occupied triplex presents a strong investment opportunity, generating $40,680 in annual gross rental income. The property houses three long-term tenants. Two units have recently renewed their leases for an additional 12 months, extending to February 2027, while the third unit is expected to renew in April 2026 for another 12 months. The main floor unit features 3 bedrooms, 1 full bath, a spacious kitchen, hardwood floors, and a sunroom heated by a forced-air furnace. The upper unit includes 2 bedrooms, 1 bath, and a large living room, heated by a boiler system. The basement unit offers 1 bedroom, 1 full bath, and a full kitchen, heated by a wall unit. Each unit is equipped with separate electrical meters and individual hot water tanks. Additional amenities include a detached garage for storage, a shared basement laundry room, and a shared driveway providing ample parking for all three units. The property is located within walking distance of Eastern Michigan University, combining stable income with a desirable location and strong rental demand.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Ypsilanti
- County
- Washtenaw
- State
- Michigan
- Longitude
- -83.6171356
- Latitude
- 42.2462839
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Investment opportunity: stable income, long-term tenants, desirable location.
Where is this triplex located?
The property is located at 408 N Hamilton St Ypsilanti, MI.
What is the asking price?
The asking price for this property is $348,900.
What are key features of this property?
This property features: - Fully occupied triplex generating $40,680 in annual gross rental income.; - Long-term tenants in place, with two units recently renewed until February 2027.; - Tenants pay all utilities.
