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Skyline Apartments 4221 N Grand River Ave

12 Unit Apartment Building $1,140,000 ($95,000/Unit) 7.06% Cap Rate Lansing, MI 48906

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Investment Highlights

The Ingham County submarket contains over 30,000 market rate apartments. Q2 occupancy is nearly 95%
Located immediately southeast of a major international airport entrance. There are 700 people employed at the airport, and LAN contributes nearly 6,2

Frontage on Grand River Ave. which provides access to I-96, US 127, I-69 and I-496.
Residents enjoy access to amenities of Downtown Lansing and East Lansing.

Executive Summary

Berkadia is pleased to present the Skyline Apartments, a 12-unit multifamily property. Situated on Grand River Avenue, just south of the entrance to the Capital Regional International Airport, this property features a low-maintenance exterior and a series of recent capital improvements including a new boiler and windows.

Skyline Apartments OM - Costar2

Property Facts

Price	$1,140,000	Building Class	C
Price Per Unit	$95,000	Lot Size	0.29 AC
Sale Type	Investment	Building Size	9,096 SF
Cap Rate	7.06%	Average Occupancy	92%
No. Units	12	No. Stories	2
Property Type	Multifamily	Year Built/Renovated	1965/2022
Property Subtype	Apartment	Parking Ratio	2.31/1,000 SF
Apartment Style	Garden	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$1,140,000
Price Per Unit	$95,000
Sale Type	Investment
Cap Rate	7.06%
No. Units	12
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	0.29 AC
Building Size	9,096 SF
Average Occupancy	92%
No. Stories	2
Year Built/Renovated	1965/2022
Parking Ratio	2.31/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.