Listed by Woodworth Commercial Okemos
$970,000
Multi-Family Investment Property
Details
APN 33-01-01-33-484-001
Property Type Multifamily
Sub Type Apartment Building
Square Footage 8,072
Units 16
Cap Rate 9.93%
NOI $96,297
Occupancy 94%
Price per SqFt $120
Year Built 1969
Buildings 1
Stories 1
Acreage 0.460
Multifamily | 16 Units | $60,625/unit
Marketing description
Prime multi-family investment opportunity in Lansing. This apartment complex features 13/16 newly renovated units with new kitchen appliances, new bathroom vanity and tubs. Units offer carpet throughout with vinyl plank flooring in the kitchen; air conditioning units in each apartment, laundry facilities on-site, surface parking. Roof replaced in 2018, new A/C in all units in 2019.
Located just east of the high trafficked Jolly/Cedar intersection, convenient to community schools, south Lansing retail corridor, Holt, Okemos and more. Minutes from I-496 and I-96. No owner financing available.
Investment highlights
13/16 units newly renovated
15/16 units occupied
Laundry on-site
Prime Lansing location
Listing Contacts
Listed by Woodworth Commercial Okemos
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$96,297.00
$8,024.75/mo
Valuation Metrics
0
DSCR
9.93%
Cap Rate
9.93%
ROI
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