4221 N Grand River Ave - Apartments FOR SALE


Lansing, MI 48906- Northwestside
$1,100,000 USD
248-972-7040
4221 N Grand River Ave, Lansing, MI for Sale
$1,100,000 USD
Apartments - FOR SALE
1/22
null | Request Cap Rate

4221 N Grand River Ave
Lansing, MI 48906
Northwestside


HIGHLIGHTS

  • Low Operating Complexity -Individually metered utilities and simplified building systems allow for lean management and lower overhead.
  • Well-Maintained 12-Unit Property
  • Strong In-Place Income with upside

OVERVIEW

Skyline Apartments is a well-maintained 12-unit multifamily property located along Lansing’s northwest Grand River corridor. Built in 1965 and fully renovated in 2023, the property totals 7,760 SF across one two-story building with a garden-level layout. The unit mix consists of eleven 2-bed/1-bath apartments and one 1-bed/1-bath unit, averaging 783 SF. Current occupancy is 100%, generating over $13,000 in monthly rent with additional upside through continued rent growth and operational efficiencies. Priced at $1,100,000 ($91,667/unit), Skyline offers investors a multifamily investment opportunity, supported by Lansing’s strong employment base anchored by Michigan State University, Sparrow Health, and General Motors.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$121 USD /SF

# OF UNITS

12

PRICE/UNIT

$91,667

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Skyline Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,724 SF

ZONING

D-1 PRO

APN/PARCEL ID

01-01-06-252-241

ASK ABOUT THIS PROPERTY

Michael McClaffertyOakPointe Real Estate AdvisorsMore Info
248-972-7040

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Michael McClaffertyOakPointe Real Estate AdvisorsMore Info
248-972-7040

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