$2250000

Lansing Portfolio
  • Units: 47
  • Cap Rate: 10.07 Percent
  • Price Paying: 56.99 sqft
  • Price Per Unit: $47,872
  • Property Type: Multi Family
  • Gross Rent Multiplier: 5.83
  • Year Built: -
  • Monthly Income Per Unit: $684.06
  • Expense to Income Ratio: 41.25 Percent
  • Average Square Feet: -
  • Debt Service Coverage: 1.98
  • Cash Flow: 112,369
  • ROI Year One: 19.98%
  • Listing Agent: J.T. Teringo
  • Property Features: The Portfolio is comprised of a 16-unit, garden-style, high-end apartment complex (which was constructed in 1966 and recently updated), a 6-unit complex, a 4-unit complex, a 3-unit complex, a pair of 2-unit complexes and 14 single family homes. The Lansing Portfolio is strategically situated with all units less than 2.50 miles from downtown Lansing, and a majority of which are located in the heart of downtown. The single family homes range in size from 284 to 1,652 Sq. Ft., and range in date built between 1910 and 1996, all of which have had some sort of updates, improvements or renovations done to them.
  • Interior Features: -
  • Exterior Features: -

Location


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  • About Us

    Income Property Organization offers customized brokerage services that are designed to meet the specific needs of a wide range of clients -- private owners as well as institutional investors -- who want to buy or sell income property.
  • Contact Us

    Income Property Organization
    6421 Inkster Rd., Suite 200
    Bloomfield Hills, MI 48301
    Telephone (248) 932-0300
    Fax (248) 932-0301