$2000000

Regency Townhomes
  • Units: 55
  • Cap Rate: -
  • Price Paying: -
  • Price Per Unit: -
  • Property Type: Multi Family
  • Gross Rent Multiplier: -
  • Year Built: 1968
  • Monthly Income Per Unit: $723.71
  • Expense to Income Ratio: 60.82 Percent
  • Average Square Feet: 72,425
  • Debt Service Coverage: -
  • Cash Flow: -
  • ROI Year One: -
  • Listing Agent: -
  • Property Features: Lansing is the core city of the Lansing Metropolitan Statistical Area, which includes over 464,000 residents total. Home to approximately 115,000 residents, Lansing is the State Capitol of Michigan, as well as the business, cultural, and educational center of Mid-Michigan. Strategically located along I-96, Lansing is positioned halfway between Michigan’s two largest cities-Detroit and Grand Rapids. Several interstates and highways converge on this region, including I-96, I-496, I-69, M-43 and US-127. This excellent location facilitates commutes and enables convenient access to all of Mid-Michigan for residents and businesses alike. Regency is a townhome-style community built in 1968. The complex consists of nine, two-story buildings with full individual basements spread across 4.24 acres. The complex contains a mix of 1 two-bedroom, one and one-half bathroom townhomes (1,000 ft.2), 49 three-bedroom, two-bathroom townhomes (1325 ft.2), and 5 four-bedroom, one-bathroom townhomes (1300 ft.2). Regency is a fractured condominium complex and current ownership owns all but one of the units. A new investor would benefit by purchasing the remaining unit and having the complex reassessed as an apartment community. Regency contains a very advantageous utility set-up, whereby all of the townhomes are serviced by tenant-paid, gas-forced air furnaces. This set-up greatly reduces the utility expenses associated with the property. Unit and site amenities such as in-unit washer & dryer hook-ups, full basements, and individual entrances make Regency an attractive place to call home. Another big draw for Regency tenants is that is has some of the largest units in the Lansing area.
  • Interior Features: -
  • Exterior Features: -

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