Provident Place | 2222 E Michigan Ave
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Provident Place 2222 E Michigan Ave
33 Unit Block of Flats For Sale Lansing, MI 48912
Investment Highlights
- 33 Apartment Units
- Additional 7,500 SF of Retail Space with approved plans for Additional 4 Apartment Units and 3 smaller Retail Spaces
- 1 Retail Space
Executive Summary
Global Real Estate Advisors are pleased to present the exclusive offering of Provident Place in Lansing, MI. This four-story building was originally constructed in 2019. Provident Place consists of 33 apartments units featuring 3 studio units, 21 one-bedroom units and 9 two-bedroom units totaling 24,798 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 1 leased retail unit at 1,970sf and an additional 7,500sf of space ready to be finished. While originally planned as a single, large retail space, the current owner has received approval to convert the space into 4 apartments and 3 smaller retail units. Provident Place 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/provident-place/ 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/provident-place/ 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 | Building Class | B |
| No. Units | 33 | Building Size | 35,900 SF |
| Property Type | Residential | Number of Floors | 4 |
| Property Subtype | Apartment | Year Built | 2020 |
| Apartment Style | Mid Rise |
| Sale Type | Investment |
| No. Units | 33 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Building Size | 35,900 SF |
| Number of Floors | 4 |
| Year Built | 2020 |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Washer/Dryer
- Security System
- Refrigerator
- Stainless Steel Appliances
- Range
- Walk-In Closets
- Carpet
- Intercom
- Patio
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Courtyard
- Wi-Fi
- Bicycle Storage
- Lift
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 456 |
| 1+1 | 21 | - | 730 |
| 2+2 | 9 | - | 900 |
Walk Score ®
Very Walkable (82)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £1,236,482 | |
| Land Assessment | £55,309 | Total Assessment | £1,291,791 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£55,309
Improvements Assessment
£1,236,482
Total Assessment
£1,291,791
zoning
| Zoning Code | Commercial (Commercial Zoned District) |
| Commercial (Commercial Zoned District) |
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Provident Place | 2222 E Michigan Ave
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