Lansing Apartments | 2199 Lansing St
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Lansing Apartments 2199 Lansing St
54 Unit Apartment Building $4,428,000 ($82,000/Unit) Detroit, MI 48209
Executive Summary
Introducing a value-add investment opportunity in the heart of Detroit, MI: This multifamily mid-rise property at 2199 Lansing St. offers 36,009 SF of space, with 45 units, making it a promising asset for prospective investors. Built in 1925 and currently under some renovations, the property boasts a timeless appeal coupled with modern conveniences. Zoned CM, it presents versatile possibilities for development. With a 50% occupancy rate, there is significant potential for growth and increased returns. Don't miss the chance to capitalize on this sought-after asset in a thriving market, offering an ideal blend of history, charm, and future prosperity.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $4,428,000 | Building Class | C |
| Price Per Unit | $82,000 | Lot Size | 0.42 AC |
| Sale Type | Investment | Building Size | 36,184 SF |
| No. Units | 54 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid Rise |
| Price | $4,428,000 |
| Price Per Unit | $82,000 |
| Sale Type | Investment |
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 36,184 SF |
| No. Stories | 4 |
| Year Built | 1925 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 15 | - | 355 - 475 |
| 2+1 | 34 | - | 580 |
| 3+1 | 5 | - | 700 |
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PROPERTY TAXES
| Parcel Number | 16-000961 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,028,700 |
PROPERTY TAXES
Parcel Number
16-000961
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,028,700
zoning
| Zoning Code | CM |
| CM |
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Lansing Apartments | 2199 Lansing St
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