532 Townsend St - Apartments FOR SALE


Lansing, MI 48933
$450,000 USD
248-707-6096
532 Townsend St, Lansing, MI for Sale
$450,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

532 Townsend St
Lansing, MI 48933


HIGHLIGHTS

  • Townsend Apartments, at 532 Townsend Street, is a seven-unit low-rise apartment building with average majority occupancy.
  • In an exceptional location just minutes from Downtown Lansing and Michigan State University.
  • Upside opportunity for the next investor to bump rent as they are currently averaging below market rate at $125-$150.
  • Plenty of resident parking on-site.

OVERVIEW

Townsend Apartments consists of two two-bedroom/one-bath units, four one-bedroom/one-bath units, and one studio unit. This asset is comprised of tenant-paid electricity and landlord-paid water and gas. Residents enjoy having on-site coin-operated laundry, ample parking, and being located close to Downtown Lansing. Consistently retaining high occupancy rates, this investment opportunity is a premier way to gain a stabilized and primarily hands-off asset in the heart of the Lansing metro.

FOR SALE DETAILS

PRICE

$450,000 USD

PRICE/SF

$101 USD /SF

# OF UNITS

7

PRICE/UNIT

$64,286

CAP RATE

Request Cap Rate

% LEASED

71%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Townsend Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

MF

APN/PARCEL ID

01-01-16-379-052

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.