1216 N Chestnut St - Apartments FOR SALE


Lansing, MI 48906- Old Forest
$297,000 USD
517-487-9222
1216 N Chestnut St, Lansing, MI for Sale
$297,000 USD
Apartments - FOR SALE
1/17
null | 13.2% Cap Rate

1216 N Chestnut St
Lansing, MI 48906
Old Forest


OVERVIEW

This property, built in 1889, offers 7 units, providing an excellent entry point into the multifamily market. With 5 one-bedroom apartments and 2 studio apartments across 2,952 SF, this is a prime investment opportunity. Zoned R-6B, this property is located in a desirable area for potential renters. Don't miss the chance to own a piece of history and generate steady rental income. - 100% Occupied - 7 units across 2,952 SF - 5 One bedroom apartments - 2 Studios apartments - Built in 1889 - Investors Opportunity - Affordable entry point into the multifamily market

FOR SALE DETAILS

PRICE

$297,000 USD

PRICE/SF

$85 USD /SF

# OF UNITS

7

PRICE/UNIT

$42,429

CAP RATE

13.2%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chestnut Living Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1889

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

CM

APN/PARCEL ID

01-01-09-303-051

ASK ABOUT THIS PROPERTY

Dave RobinsonNAI Mid-MichiganMore Info
517-487-9222

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Dave RobinsonNAI Mid-MichiganMore Info
517-487-9222

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.