4823 S Pennsylvania Ave - Apartments FOR SALE


Lansing, MI 48910- Old Everett
$600,000 USD
310-633-3001
4823 S Pennsylvania Ave, Lansing, MI for Sale
$600,000 USD
Apartments - FOR SALE
1/2
null | 11.63% Cap Rate

4823 S Pennsylvania Ave
Lansing, MI 48910
Old Everett


HIGHLIGHTS

  • New Water Heaters
  • In Unit Updates
  • Eight 2-bed units

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$600,000 USD

PRICE/SF

$51 USD /SF

# OF UNITS

9

PRICE/UNIT

$66,667

CAP RATE

11.63%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1968

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,889 SF

ZONING

-

APN/PARCEL ID

01-01-34-376-061

ASK ABOUT THIS PROPERTY

Todd KostaWoodworth CommercialMore Info
310-633-3001

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Todd KostaWoodworth CommercialMore Info
310-633-3001

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