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27918279
27918280

833 Vine St, Lansing, MI 48912

BP
MI 6204387892
Apex Appraisal Company Llc
Listed by Apex Appraisal Company Llc
$249,900
224 days on market
Updated 2 days ago
Opportunity zone

833 Vine St

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 1,760
Units 4
Cap Rate 6.8%
NOI $17,000
Occupancy 100%
Price per SqFt $142
Year Built 1906
Buildings 1
Stories 2
Acreage 0.137
Zoning R-MX - Mixed Residential

Well Located 4-Unit near UM Sparrow and Neogen with a value-add opportunity!

Marketing description

Exceptional 4-Unit Income Property in Prime Lansing Location – Near UM Sparrow Hospital & Neogen!

Discover an outstanding investment opportunity in the heart of Lansing! This well-maintained 4-unit multifamily property is ideally situated between University of Michigan Sparrow Hospital and Neogen Corporation, two major employers currently expanding and bringing hundreds of new jobs to the area — making this an ideal spot for long-term rental demand.

Each unit offers one bedroom and one full bathroom, with Unit 1 featuring a bonus second bedroom, perfect for additional rental flexibility or a home office setup. Three of the four units have been tastefully updated, offering comfortable, modern living spaces that attract quality tenants.

Key Features:

  • 4 total units (3 updated)

  • Unit 1 includes a small 2nd bedroom

  • Landlord pays water, sewer, and heat

  • Tenants pay electric

  • Strong rental history and steady occupancy

  • Convenient off-street parking and easy access to downtown Lansing, MSU, and major highways

Whether you’re a seasoned investor expanding your portfolio or a new investor looking for a turnkey income property, this is an excellent choice in a rapidly developing neighborhood.

Bonus Opportunity: This property can be purchased together with 819 Vine St, a nearby 5-unit property listed at $359,900, offering a combined 9-unit portfolio in a thriving rental market! Listing agent has ownership interest in both Vine St Properties

Listing Contacts

BP
MI 6204387892
Apex Appraisal Company Llc
Listed by Apex Appraisal Company Llc

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$17,000.00
$1,416.67/mo

Valuation Metrics

0
DSCR
6.8%
Cap Rate
6.8%
ROI

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Additional Information

Name
Benjamin Parker
License
6204387892
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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