248-415-2600
2199 Lansing St, Detroit, MI for Sale
Apartments - FOR SALE
1/21
null | Request Cap Rate

2199 Lansing St
Detroit, MI 48209
Mexicantown


HIGHLIGHTS

  • The offering includes an adjacent parcel with the potential to create 25+ parking spaces, enhancing functionality and long-term tenant appeal.
  • The property offers immediate in-place cash flow with significant upside through the renovation and lease-up of remaining vacant units.
  • Major capital improvements have already been completed, including roof, windows, structural, and mechanical upgrades, substantially reducing near-term

OVERVIEW

*Auction Sale* 2199 Lansing St is a 54-unit value-add multifamily community strategically located in Detroit’s Southwest submarket, offering investors a compelling combination of immediate in-place cash flow and significant upside through the renovation and lease-up of remaining vacant units. The property has benefited from substantial recent capital improvements, including a new roof, windows, and structural and mechanical upgrades, significantly reducing near-term capital expenditure requirements for a new owner. The offering also includes an adjacent parcel with the potential to accommodate 25+ additional parking spaces, further enhancing the property’s functionality and tenant appeal. The unit mix consists of 12 studios, 40 two-bedroom units, and 2 three-bedroom units, providing a diverse mix well suited to the surrounding rental market. The property is located minutes from Riverside Park, the Detroit Riverfront expansion, the new Gordie Howe International Bridge, and the new Ford Motor Company campus, positioning 2199 Lansing St to benefit from continued investment and neighborhood growth across Detroit’s Southwest submarket. With existing cash flow, completed capital improvements, substantial lease-up potential, and additional parking upside, 2199 Lansing St presents an attractive opportunity to acquire and reposition a well-located multifamily asset in an improving Detroit market.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

54

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lansing Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,255 SF

ZONING

CM

APN/PARCEL ID

16-000961

ASK ABOUT THIS PROPERTY

Tyler SarterMarcus & MillichapMore Info
248-415-2600

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Tyler SarterMarcus & MillichapMore Info
248-415-2600

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