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The Lansing 35 Portfolio

3 Residential Properties Offered at £1,838,758 in Lansing, MI

Investment Highlights

  • Fully Upgraded Units (most units)
  • Units are on Average $125-$150 Below Market
  • 94.2% occupied
  • Exceptional Locations: Minutes from Downtown Lansing and Michigan State University

Executive Summary

The Hull Multifamily Advisors (HMA) are pleased to present the exclusive offering of the Lansing Portfolio, a 3 property, 35-unit multifamily portfolio in Michigan’s state capital. Comprised of REO- Vincent Court Apartments (16 units), Butler Apartments (12 units), and Townsend Apartments (7 units), all 3 properties are within 5 miles of each other.
The REO-Vincent Court Apartments consists of (16) two bed one baths units averaging 800 SF. Each unit is individually metered for water, gas and electricity while tenants are responsible for all utility costs. Residents are able to enjoy fully updated units, stainless steel appliances, new kitchens, new flooring etc. Each unit also boasts individual entrances, washer/dryer hook-ups, and dishwashers.
Butler Apartments consists of (11) two-bedroom one bath averaging 850 SF and (1) one bed one bath that is also 850 SF. This asset is individually metered for tenant paid electricity, with landlord paid hot water baseboard boiler heat. Residents are also able to enjoy living in fully updated units, stainless steel appliances, new kitchens, new flooring, etc. Butler Apartments boasts common area coin operated laundry, ample parking, and being located close to downtown Lansing.
Townsend Apartments consists of (2) two bed one baths, (4) one bed one baths, and (1) studio unit. This asset is comprised of tenant paid electricity, and landlord paid water and gas. Residents enjoy having onsite coin operated laundry, ample parking and being located close to downtown Lansing.
Please contact HMA for more information before this turnkey portfolio is gone.

Property Facts

Price £1,838,758
Price / SF £68.72 / SF
Net Initial Yield 7.74%
Sale Type Investment
Status Active
Number of Properties 3
Individually For Sale 0
Total Building Size 26,757 SF
Total Land Area 1.70 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
Butler Apartments
321 N Butler Blvd, Lansing, MI 48915
Residential 8,958 SF 1965 -
532 Townsend St, Lansing, MI 48933 Residential 4,450 SF 1965 -
946 Vincent Ct, Lansing, MI 48910 Residential 13,349 SF 1969 -
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  • Listing ID: 30896285

  • Date on Market: 07/02/2024

  • Last Updated:

  • Address: The Lansing 35 Portfolio, Lansing, MI

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