Beautifully Renovated Lansing 18 Units (3x 6 units)
Modern updated cash cow!
Marketing description
Tremendous rehabbed 6 unit buildings (3 total located at 3045, 3061, and 3069 Bernice) in an awesome apartment community! The current owners have fully renovated 15 of 18 units across these buildings and they can be purchased individually or as a package. Boasting $28,802 of monthly rental income, this is a cash cow! Sellers also did a complete tear off new roof this past year at 3045 Bernice (others were in good shape) along with renovating units to modern standards. Ownership has also installed electric heaters in the units to largely bypass the boilers (still installed but rarely kick on now) to much reduce the expenses. They replaced one boiler as well. This complex also has a large parking lot with tons of spaces for tenants. This is an investor's dream given the 9%+ cash on cash at asking and turnkey condition.
Investment highlights
9%+ Cash on Cash
8%+ Cap rate
Turnkey
All 2 or 3 bedroom units
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