Multifamily Property Near
1577 Andrea, Ypsilanti, MI 48198
For Sale
Contact for pricing
The property is near downtown, Eastern Michigan University, and city transportation.
Property Size1,334 SF
Price / SF$149.18
Days on Market46
Property Features for 1577 Andrea
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Public Transit
Listing Agency:
Beal Properties LLC
Listed By:
Stewart Beal · License #6505380163
(734) 602-5700
Source:
Crexi
Added: Sep 25
Changed: Nov 8
Last Checked: Nov 8 at 5:32PM
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 Beal Properties LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 1,334 square feet, this multifamily property is located at 1577 Andrea in Ypsilanti, Michigan. The address places it near downtown and Eastern Michigan University, with city transportation also nearby.
Major highways are in the surrounding area, providing regional access.
Major highways are in the surrounding area, providing regional access.
Key Highlights
- 1,334‑square‑foot multifamily property
- Near downtown Ypsilanti and Eastern Michigan University
- City transportation is nearby
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,725
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,500
$314.5K
Cap Rate 7%
$224,643
$224.6K
Cap Rate 9%
$174,722
$174.7K
Market Conditions
NOI Build-Up for 1,334 SF
Gross rent
$30.1K $22.56/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$28.6K $21.43/SF
− OpEx
−$12.9K −$9.64/SF
NOI
$15.7K $11.79/SF
Area
Washtenaw County, MI
Vacancy
5.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,500
Cap Rate 7%
$224,643
Cap Rate 9%
$174,722
Alternative Uses
Best Use
Apartment 5plus
$224.6K
$196.6K – $262.1K
NOI $15,725 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$392.0K
$343.0K – $457.3K
NOI $27,438 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Explore this area
Business Placement
Demographics for 48198, MI
40,067
Population
17,379
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
92%
High-School Grad
33.4 sq mi
ZIP Area
1,200
Density / Sq Mi
$63,678
Median Household Income
$36,671
Median Earnings
$1,197
Median Rent
$178,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Multifamily properties in Ypsilanti, MI
Properties on Market for Multifamily properties in Ypsilanti
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - The property is near downtown, Eastern Michigan University, and city transportation.
Where is this multifamily property located?
The property is located at 1577 Andrea Ypsilanti, MI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 1,334‑square‑foot multifamily property; Near downtown Ypsilanti and Eastern Michigan University; City transportation is nearby
