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Address Not Published

Lansing, MI 48910
  • $425,000
  • STATUS: Active Under Contract
  • ON SITE: 181 Days
  • MLS #: 265516
Under Contract
UPDATED: 60 min ago
$425,000
  • 0
    BEDS
  • 0.28
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,558
    SQFT
  • $273
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1968
County:
Area:

School Ratings & Info

School District:

Description

Lease values for all units comes to $5745 per month, $68940 a year! Proforma with market rents on the property would equal $6350 a month, $76200 a year conservatively with minimal expense on turns. Improvements with dishwashers, cabinets, counter tops and vanities could increase rents over the proforma an additional $100 per month! The exterior stairs and walk-way have almost $100k in improvements in the past 3 years, there are no further major expenses on the horizon for this property.

Monthly Payment Calculator

© 2022 Greater Lansing Association of Realtors® MLS. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from GLAR MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Gateway Group at Keller Williams. Data last updated: 2022-12-01T10:50:54.39.
www.realhomepros.com/homes/129405929
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Address Not Published Lansing, MI 48910

  • Price: $425,000
  • Status: Active Under Contract
  • On Site: 181 Days
  • Updated: 60 min ago
  • MLS #: 265516
0
Beds
0
Baths
0
½ Baths
0.28
Acres
1,558
SQFT
$273
$/SQFT
1968
Built
Neighborhood:
Pleasant Ridge
County:
Ingham
Area:
Lansing
School District:
Lansing
Property Description
Lease values for all units comes to $5745 per month, $68940 a year! Proforma with market rents on the property would equal $6350 a month, $76200 a year conservatively with minimal expense on turns. Improvements with dishwashers, cabinets, counter tops and vanities could increase rents over the proforma an additional $100 per month! The exterior stairs and walk-way have almost $100k in improvements in the past 3 years, there are no further major expenses on the horizon for this property.
Exterior Features

Attached Garage YN No Construction Materials Vinyl SidingBlock Exterior Features Barbecue Lot Size Dimensions 91X132 Parking Features Asphalt

Interior Features

Basement SlabNo Basement Cooling None Cooling YN No Flooring CarpetCeramic Tile Heating BaseboardHot Water Heating YN Yes Kitchen Appliances OvenRangeRefrigerator Laundry Features Common AreaLower Level Levels Three Or More

Property Features

Green Building Verification Type [] Gross Income 68700 Insurance Expense 7000 Listing Terms ConventionalCash Net Operating Income 28727 Other Expense 39973 Property Sub Type Income Property Type Label Commercial Sewer Public Sewer Tax Amount 11329 Tax Year 2021 Township Lansing City Utilities Water ConnectedSewer ConnectedNatural Gas ConnectedHigh Speed Internet AvailableElectricity ConnectedCable Available

Listing provided courtesy of Christopher Silker of Keller Williams Realty Lansing-East: 517-853-1200.

Listing information © 2022 Greater Lansing Association of Realtors® MLS.
© 2022 Greater Lansing Association of Realtors® MLS. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from GLAR MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Gateway Group at Keller Williams. Data last updated: 2022-12-01T10:50:54.39.
 
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The Gateway Group at Keller Williams
1300 N Waverly Rd
Lansing MI, 48917