4823 S Pennsylvania Ave presents an opportunity to acquire a fully occupied 9-unit multifamily property in Lansing, Michigan. The property features a desirable unit mix consisting of eight 2-bedroom apartments and one efficiency unit, providing a stable and diversified rental income stream.
The building has benefited from recent capital improvements, with all nine units at least partially renovated. Updates include renovated kitchens, tubs and vanities, vinyl plank flooring, and carpet. Additional improvements include a 2023 water heater, while the boiler is professionally serviced on an annual basis.
The property is currently 100% occupied and generates a net operating income of $69,796.02, offering investors immediate in-place cash flow. Additional amenities include rear parking and convenient access to the CATA bus line.
Offered at $600,000, 4823 S Pennsylvania Ave represents a stabilized multifamily investment with recent improvements, strong occupancy, and established operating income in the Lansing market available.