321 N Butler Blvd - Apartments FOR SALE


Lansing, MI 48915- Downtown Lansing
$799,000 USD
248-707-6096
321 N Butler Blvd, Lansing, MI for Sale
$799,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

321 N Butler Blvd
Lansing, MI 48915
Downtown Lansing


HIGHLIGHTS

  • Most units fully updated with stainless steel appliances, new kitchens, new flooring, and more.
  • Exceptional location being minutes from Downtown Lansing and Michigan State University.
  • 321 N Butler Boulevard consistently averages near 100% occupancy records.
  • Units average $125-$150 rental rates, which is below market presenting upside to market rates.

OVERVIEW

Butler Apartments consists of eleven two-bedroom/one-bath units averaging 850 square feet and one one-bedroom/one-bath unit that is also 850 square feet. This asset is individually metered for tenant-paid electricity and landlord-paid hot water baseboard boiler heat. Residents can also enjoy living in fully updated units with stainless steel appliances, new kitchens, new flooring, and other recent upgrades. Butler Apartments boasts a common area, coin-operated laundry, ample parking, and is close to downtown Lansing. Please visit www.hmfama.com in order to download the OM and property financials.

FOR SALE DETAILS

PRICE

$799,000 USD

PRICE/SF

$89 USD /SF

# OF UNITS

12

PRICE/UNIT

$66,583

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Butler Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,988 SF

ZONING

Mixed Z

APN/PARCEL ID

01-01-17-276-222

ASK ABOUT THIS PROPERTY

Austin HullHull Multifamily AdvisorsMore Info
248-707-6096

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Austin HullHull Multifamily AdvisorsMore Info
248-707-6096

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.