318 Blanche

The Property

• 318 Blanche is a four-unit quadruplex built in 1972 and located in Plymouth's Historic Old Village neighborhood, just blocks from downtown Plymouth and Kellogg Park. The property is 100% leased with all four one-bedroom, one-bath units currently occupied, generating $60,000 in in-place annual gross rent. Recent lease activity underscores meaningful embedded rent growth: the longest-tenured resident just renewed into a new 24-month lease at $1,225 per month, a 31% increase over her prior $935 rent, while a newly signed lease reflects a market-tested rent of $1,325, the highest in the building. With two of the four units still priced below this recently achieved level, a new owner has a clear, low-capex path to mark remaining rents to market as leases turn.
• The property is self-managed, with a lean operating expense load of approximately $13,300 annually covering real estate taxes, insurance, utilities, repairs and maintenance, and landscaping; a management fee has not historically been charged. Tenants are responsible for electric, while the owner covers water, sewer, trash, and natural gas heat. Construction features a durable slab foundation, vinyl exterior, and asphalt roof. The four-unit scale and simple, cost-efficient operating profile make this an ideal acquisition for a first-time investor, 1031 exchange buyer, or owner-operator seeking a turnkey, income-producing asset in one of western Wayne County's most desirable small-town markets.

Location

• 318 Blanche sits in Plymouth's Historic Old Village, one of the most walkable, character-rich neighborhoods in western Wayne County. Just blocks from downtown Plymouth and Kellogg Park, residents have immediate access to a vibrant mix of independent shops, award-winning restaurants, coffee houses, and year-round community events that have made downtown Plymouth a true regional destination. The neighborhood's tree-lined streets and century-old architecture give the area lasting curb appeal that continues to attract long-term renters.
• The City of Plymouth is one of Metro Detroit's most affluent and stable communities, with a median household income of roughly $112,000, nearly 40% above the state average, and a poverty rate under 3.5%. The area is served by the well-regarded Plymouth-Canton Community Schools, a durable draw for long-term renters and families. Plymouth sits about 27 miles from downtown Detroit and 20 miles from Ann Arbor, with easy access via I-275 and M-14 to major regional employers including Adient, Brembo North America, and Varroc Lighting Systems. This combination of small-town charm, strong demographics, and connectivity to major job centers supports consistent rental demand and long-term rent growth for well-located multifamily assets like 318 Blanche.