Catylist ID: #30283558
Income/Residential/Office - for Sale in Ypsilanti
Multi-Family for SaleAlso listed as Office, Hospitality
|Catylist Listing ID:||30283558|
|Property Subtypes:||Duplex/Fourplex, Other|
|Number of Units:||4 Units|
|Building Size (RSF):||4,685 SF|
|Gross Land Area:||0.28 SF|
|Unit Price:||$131,250 Per Unit|
|Property Use Type:||Investment, Vacant/Owner-User|
|Building Name:||PARISH HOUSE INN|
|Usable Size (USF):||4,685 SF|
|Sale Terms:||Cash to Seller|
Overview / Comments
Parish House Inn - Meticulously restored and modernized historic residence that has been a highly regarded Bed & Breakfast the last 25 years. Owner/operator is retiring.
This outstanding property is being offered as an income/investment property, and would also be a beautiful private residence or duplex in the heart of Ypsilanti's business district.
Up to Twelve (12) Bedrooms with private baths that can easily be subdivided into Three or Four apartments.
There are 10 & 1/2 Baths including 2 Barrier Free. Whole-House Fire Suppression System, Central Air & Heat, Hardwood floors & carpeting. Seven on-site parking spots and a beautiful view of Huron River in backyard.
Furniture, Fixtures & Appliances available separately.
PRIVATE SHOWINGS BY APPOINTMENT ONLY!
Visit www.ParishHouseInn.com for more information.
Attachments & Media
|Finance Data Year||2019|
|Potential Rental Income||$64,800 (Annual)|
|Gross Operating Income||$72,576 (Annual)|
|Net Operating Income||$47,997 (Annual)|
|Actual or Proforma Year||Proforma|
|Nearest MSA:||Ann Arbor|
|Submarket/Township:||Washtenaw E of 23|
|Taxing Authority:||City of Ypsilanti|
|Zoning:||HC - HISTORIC CORRIDOR|
|Property Located Between:||1 Blk. South of Michigan Ave.|
|Highway Access:||I-94 and U.S. 12|
|Airports:||DTW, Ann Arbor|
|Site Description:||THE HOUSE. The old Queen Anne style house stood six blocks from the current location, when it served as the home for the ministers and their families of the First Congregational Church. It had been used as the Sunday School and office space since the 1950’s, but due to the passage of the American Disabilities legislation in the 1980’s, it’s usefulness was over. The logical thing to do was tear it down and build a new building. Because it was in the Historic District, which has strict rules in place to preserve these buildings, it had to be moved. So it was offered for sale in 1987 with the condition that it had to be moved off the property. It was purchased, by a man who had the vision of turning it into a bed and breakfast. He had purchased a vacant lot near-by and the house was moved there in September of 1987. Local architects designed the building and the renovation began. Unfortunately, life intervened, and it was not finished for five more years. It officially opened in August of 1993, and was named the Parish House Inn to honor its past life. Landscaping for the front and side yard was also done in 1993, and the patio constructed, adjacent to the parking area. Only dining tables and chairs were provided. Breakfast was served there occasionally for a couple of years. In 1998, when my husband, Lance Mason and I became the owners, I totally re-designed the back patio. By surrounding the area with a lattice fence for climbing roses and clematis, it has become a private space for guests. Large pots of geraniums and herbs, add color. A table and chairs are there for guests to relax and enjoy the view. The backyard is about thirty feet above the Huron River. At a strategic place above the river, there’s a bench where guests like to sit, watch the birds flying around the trees and the ducks floating by. In the breakfast area, we have a collection of photographs that show the house being moved. It was quite a process. Our guest are always fascinated and I love to tell the story.|
|Area Description:||Ypsilanti is a progressive city with a great community vibe and arts scene. Ypsilanti has the second largest contiguous historic district in the state of Michigan which includes both downtown Ypsilanti, along Michigan Avenue, and the Depot Town area adjacent to Frog Island Park and Riverside Park, which features many specialty shops, bars and grills, and a farmers' market. The history of Ypsilanti is still present and vibrant in today’s shops, dining and entertainment scene. With the Downtown and Depot Town districts only minutes apart they utilize their beautifully preserved historic areas to add interest to the variety of cultures present in the art, music and shopping. Ypsilanti is home to Eastern Michigan University and expands beyond the downtown districts to include 23,000+ acres of public park and recreation areas that help make up the Washtenaw County area. You’re just minutes from town and can find golfing, mountain biking, canoeing, hiking or natural scenery to relax in. Alternatively, you can travel to neighboring Ann Arbor (6 miles west of Ypsilanti) or Detroit (18 miles east of Ypsilanti) for sporting events, concerts and cultural excursions.|
|Total Number of Buildings:||1|
|Number of Stories:||3|
|Parking Description:||Private lot in rear of bldg.|
|Total Parking Spaces:||7|
|Heat Type:||Natural Gas|
|Air Conditioning:||Engineered System|
|Zoning Description:||HC - Historic Corridor. Approved as Multi-Family|
|Easements Description:||Shared drive to rear parking with neighboring property.|
|Legal Description:||Lot 166 & S 6 FT of Lot 167 Original Plat|
|Proximity:||1 mile||3 miles||5 miles|
Tony CaprareseSwisher Commercial CPIX Member
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