Updated Income Property Near
For Sale
$319,000
125 N Summit St, Ypsilanti, MI 48197
Three-unit property near campus with long-term leases and garage.
Property SizeContact for details
Days on Market190
Property Features for 125 N Summit St
General Information
Standard status
Active
Property subtype
Multi-Family
Building Details
Year Built
1864
Listing Agency:
The Charles Reinhart Company
Listed By:
Ayad Ridha · License #6506044647
(734) 645-3110
Source:
Katie-k
Added: Apr 10
Changed: Oct 11
Last Checked: Oct 7 at 4:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Charles Reinhart Company
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Investment Insights
Based on property information with market context.
This updated three-unit income property is located within a short walk to campus and includes a garage. Unit 1 features 3 bedrooms and 1 bath, and is leased through August 2027 for $16,140 per year. Unit 2 has 1 bedroom and 1 bath, and is also leased through August 2027 for $10,740 per year. Unit 3 offers 2 bedrooms and 1 bath, leased through August 2027 for $11,340 per year. The garage is leased for $600 per year. Ample off-street parking is available. Tenants are responsible for gas, electric, and water/sewer expenses. The property has a bike score of 66, indicating it is bikeable, a walk score of 91, designating it as a walker's paradise, and a transit score of 57, indicating good transit options.
Key Highlights
- Income‑generating property with all units leased through August 2027.
- Prime location: Walker's Paradise (walkScore 91) and short walk to campus.
- Three units: one 3‑bedroom, one 1‑bedroom, and one 2‑bedroom.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
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Business Placement
Demographics for 48197, MI
67,895
Population
28,649
Households
2.4
Avg Household Size
33
Median Age
47%
College-Educated
94%
High-School Grad
41.2 sq mi
ZIP Area
1,648
Density / Sq Mi
$70,913
Median Household Income
$39,314
Median Earnings
$1,203
Median Rent
$274,100
Median Home Value
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Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property near campus with long-term leases and garage.
Where is this triplex located?
The property is located at 125 N Summit St Ypsilanti, MI.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Income‑generating property with all units leased through August 2027.; Prime location: Walker's Paradise (walkScore 91) and short walk to campus.; Three units: one 3‑bedroom, one 1‑bedroom, and one 2‑bedroom.
