Listed by NAI Mid-Michigan
$895,000
3501 Simken Drive
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 11,598
Units 12
Cap Rate 7.49%
NOI $67,073
Occupancy 67%
Tenancy Multi
Class C
Lot Size (SqFt) 32,647
Multifamily | 12-Units | $74,583/Unit
Marketing description
Workforce Housing Investment Opportunity – 3501 Simken Dr, Lansing, MI
Located on a quiet, tree-lined cul-de-sac in Southeast Lansing, 3501 Simken Drive offers a compelling 12-unit multifamily investment opportunity in a stable, workforce-driven submarket. This property uniquely combines a peaceful residential setting with immediate access to parks, schools, and daily conveniences—making it highly attractive to long-term tenants.
Investment highlights
- 11,598 SF building with 12 units
- Established property built in 1966
- Renovated apartment interiors 2024/2026
- Prime location for retail and service industry workforce residents
- View of Beacon Park right outside the front door
- The combination of a quiet cul-de-sac location and park-side positioning creates a living environment that stands out in the marketplace - driving strong tenant appeal and stability.
- This asset delivers both strong lifestyle appeal for tenants and reliable income potential for ownership.
Listing Contacts
Listed by NAI Mid-Michigan
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$67,073.00
$5,589.42/mo
Valuation Metrics
0
DSCR
7.49%
Cap Rate
7.49%
ROI
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