9 unit in Lansing Southside - Well Maintained

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30349953
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 9 Units
Building Size (RSF): 4,674 SF
Gross Building Area: See Agent
Gross Land Area: 0.28 Acres
Sale Price: $350,000
Unit Price: $38,888.89 Per Unit
Property Use Type: Investment
Building Name: Pennsylvania Apartments
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/21/2019

Overview / Comments

Pennsylvania Apartments are located on South Pennsylvania Ave in Lansing, just North of Jolly Rd. 8 2 bedroom units and a single efficiency unit for a total of 9 apartments. The property has separate electric meters for each unit and the Landlord pays for the boiler heat and water and trash. Parking is provided in the rear private lot for all tenants. A storage shed is in the back yard for storage of lawn equipment. A coin operated laundry is located in the building for tenant use. The property has been well maintained and received new roofing in 2017, tile flooring in 6 units, and most appliances have been updated in the past 4 years.
City of Lansing rental certificate issued 2/14/2018.

Additional Details

Nearest MSA: Lansing-East Lansing
County: Ingham
Taxing Authority: City of Lansing - Ingham County
Tax ID/APN: 33-01-01-34-376-061
Percent Occupied: 100%
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 3
Year Built: 1968
Year Renovated: 2017
Roof Type: Flat
Parking Type: Surface
Total Parking Spaces: 12
Laundry: Shared
Sprinklers: None
Heat Type: Hot Water
Heat Source: Central
Fuel: Gas
Air Conditioning: Window Unit

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,497 88,575 206,284
Median Age: 36.81 33.56 33.36
Households: 4,968 35,845 81,634


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