9
See all 9 photos
$750,000
Est. payment /mo
4 Baths
2,200 SqFt
Active
318 Blanche Street Plymouth, MI 48170 1301
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Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,200 sqft
Price per Sqft $340
Subdivision Mi
MLS Listing ID 61013934
Style 2 Story
Full Baths 4
Year Built 1972
Annual Tax Amount $6,797
Lot Size 6,534 Sqft
Acres 0.15
Lot Dimensions 50X132
Property Sub-Type Multi-Family
Property Description
Turnkey 4-unit quadruplex in Plymouth's Historic Old Village, just blocks from downtown Plymouth and Kellogg Park. 100% leased with all four 1BR/1BA units occupied, generating $60,000 in in-place annual gross rent. Recent lease activity shows meaningful embedded rent growth: the longest-tenured resident just renewed at $1,225/mo (up 31% from her prior $935 rent), while a newly signed lease reflects a market-tested $1,325/mo, the highest in the building. Two of the four units remain priced below this level, giving a new owner a clear, low-capex path to mark rents to market as leases turn. Self-managed with a lean ~$13,300 annual operating expense load (taxes, insurance, utilities, repairs/maintenance, landscaping); no management fee has historically been charged. Tenants pay electric; owner covers water, sewer, trash, and natural gas heat. Slab foundation, vinyl exterior, asphalt roof. Ideal for a first-time investor, 1031 exchange buyer, or owner-operator seeking a turnkey income-producing asset in western Wayne County. Buyer/buyer's agent to verify all information.
Location
State MI
County Wayne
Area Plymouth (82013)
Zoning Multi-Family
Interior
Fireplace No
Exterior
Exterior Feature Vinyl Siding
Building
Story 2 Story
Foundation Slab
Water Public Water
Structure Type Vinyl Siding
Schools
School District Plymouth Canton Comm Schools
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Greater Development LLC
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