Avenue Flats | 1629 E Michigan Ave
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Avenue Flats 1629 E Michigan Ave
13 Unit Block of Flats For Sale Lansing, MI 48912
Investment Highlights
- 13 Apartment Units
- Additional properties available on Michigan Avenue as part of Portfolio
- 2 Retail Spaces - Currently Leased
Executive Summary
Global Real Estate Advisors are pleased to present the exclusive offering of Avenue Flats in Lansing, MI. This four-story building was originally constructed in 2012. Avenue Flats consists of 13 apartments units featuring 4 studio units, 7 one-bedroom units and 2 two-bedroom units totaling 8,422 square feet. The property features tenant paid electricity, with the landlord paying for water & sewer. The current owner has implemented a utility reimbursement program for water which will allow a new owner to continue to increase revenue as the program is rolled out across all leases. The property also includes 2 retail units totaling 3,274 square feet, both currently leased. The Avenue Flats is close to the Michigan State University Campus, the Michigan Capital building, plenty of restaurants, grocery stores, childcare and other businesses in Lansing.
Visit our website at https://grea.com/properties/avenue-flats/ for more information including a full offering memorandum.
This property is available individually or part of the Michigan Avenue Portfolio - Click to view more information on the portfolio opportunity - https://grea.com/properties/michigan-avenue-portfolio/
Visit our website at https://grea.com/properties/avenue-flats/ for more information including a full offering memorandum.
This property is available individually or part of the Michigan Avenue Portfolio - Click to view more information on the portfolio opportunity - https://grea.com/properties/michigan-avenue-portfolio/
Property Facts
| Sale Type | Investment | Lot Size | 0.13 AC |
| No. Units | 13 | Building Size | 11,696 SF |
| Property Type | Residential | Average Occupancy | 100% |
| Property Subtype | Apartment | Number of Floors | 4 |
| Apartment Style | Mid Rise | Year Built | 2012 |
| Building Class | B | Parking Ratio | 2.14/1,000 SF |
| Sale Type | Investment |
| No. Units | 13 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.13 AC |
| Building Size | 11,696 SF |
| Average Occupancy | 100% |
| Number of Floors | 4 |
| Year Built | 2012 |
| Parking Ratio | 2.14/1,000 SF |
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Kitchen
- Refrigerator
- Tub/Shower
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Controlled Access
- Bicycle Storage
- Walk To Campus
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 492 - 500 |
| 1+1 | 7 | - | 629 - 660 |
| 2+1 | 2 | - | 901 |
Walk Score ®
Very Walkable (81)
Bike Score ®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 01-01-15-279-091 | Improvements Assessment | £624,395 |
| Land Assessment | £15,101 | Total Assessment | £639,496 |
PROPERTY TAXES
Parcel Number
01-01-15-279-091
Land Assessment
£15,101
Improvements Assessment
£624,395
Total Assessment
£639,496
zoning
| Zoning Code | Residential (Mixed use commercial/residential) |
| Residential (Mixed use commercial/residential) |
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Avenue Flats | 1629 E Michigan Ave
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