314-316 N Sycamore St - Apartments FOR SALE


Lansing, MI 48933- Downtown Lansing
$400,000 USD
248-563-7764
314-316 N Sycamore St, Lansing, MI for Sale
$400,000 USD
Apartments - FOR SALE
1/3
null | 8.46% Cap Rate

314-316 N Sycamore St
Lansing, MI 48933
Downtown Lansing


HIGHLIGHTS

  • Walking distance to capital/government jobs
  • Close proximity to other major employers (GM, Michigan State University, Sparrow Hospital)
  • Units with outdoor space

OVERVIEW

A TURNKEY INVESTMENT OPPORTUNITY IN VIBRANT LANSING! Discover this meticulously maintained and significantly updated 5-unit multifamily property, ideally situated in the heart of Lansing. This offering presents a rare chance for investors to acquire a cash-flowing asset with immediate income and significant upside potential, particularly through its established mid-term rental unit. Strategic location with easy access to downtown Lansing, local amenities, transportation, and employment hubs makes this property highly attractive to a wide range of tenants. Investment Upside Proven Mid-Term Rental Success: Leverage the existing furnished unit's success to potentially convert additional units, significantly boosting your overall revenue towards the $87,000 Mid-Term Market Annual Potential. Strong Rental Market: Lansing's robust economy, growing population, and proximity to major universities (Michigan State University), state government, and healthcare facilities ensure consistent demand for rental properties. Don't miss out on this exceptional opportunity to own a stable, income-generating asset with significant future potential in a thriving Michigan market! Highlights 2025 Garage Roof 2024 Updated Electrical Panels 2023 Poured Concrete parking lot 2023 New boiler 2018 New roof and back decks Finished hardwood floors Successful furnished mid-term rental makes this an attractive value add opportunity to turn remaining 4 units and significantly increase NOI

FOR SALE DETAILS

PRICE

$400,000 USD

PRICE/SF

$63 USD /SF

# OF UNITS

5

PRICE/UNIT

$80,000

CAP RATE

8.46%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1917

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

-

APN/PARCEL ID

01-01-16-152-031

ASK ABOUT THIS PROPERTY

Jeanna StewartAbundant PropertiesMore Info
248-563-7764

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Jeanna StewartAbundant PropertiesMore Info
248-563-7764

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