Fully Occupied 11-Unit Apartment Building In Ypsilanti

Fully occupied 11-unit apartment building offering an attractive turnkey investment opportunity with a reported 6.5% cap rate. Extensively renovated in 2022, the property presents an excellent opportunity for investors seeking immediate income together with significant value-add potential. The property comprises ten fully renovated two-bedroom apartments and one studio apartment, all currently occupied. Major improvements completed in 2022 include a new roof, parking lot, landscaping, boiler, flooring, and fresh interior and exterior paint. Each apartment features a modern kitchen with granite worktops, stainless steel appliances, marble bathrooms and a private washer and dryer, providing an attractive offering for tenants. The landlord pays gas and water, while tenants are responsible for electricity. A key investment opportunity exists through the potential conversion of ten two-bedroom apartments into three-bedroom units, with the seller indicating the possibility of generating an additional approximately $48,000 in annual rental income. This combination of stable occupancy, recent capital improvements and future income growth makes the property an appealing multifamily investment. All units are currently tenant occupied. Enquire today to receive further information about this income-producing apartment investment. Investment Highlights