5500 Kaynorth Rd - Apartments FOR SALE


Lansing, MI 48911- Southeast Lansing
$5,850,000 USD
248-851-5000
5500 Kaynorth Rd, Lansing, MI for Sale
$5,850,000 USD
Apartments - FOR SALE
1/13
null | 7.09% Cap Rate

5500 Kaynorth Rd
Lansing, MI 48911
Southeast Lansing


HIGHLIGHTS

  • Lansing 74 is a low-rise, five-building apartment complex located in Lansing, Michigan with 74 apartments spread across 57,202 rentable square feet.
  • Prime location in Lansing, Michigan with convenient access to retailers such as Target, Meijer, Dollar Tree, and ALDI.
  • Highly sought-after multi-family investment opportunity to acquire a recently renovated, upgraded asset that is currently 81% occupied.
  • Fantastic access to a large population base with nearly 150,000 people within five miles, 46% of whom rent their living spaces.
  • Premium amenities include stainless steel appliances, in-suite washers and dryers, and exterior balconies.

OVERVIEW

Lansing 74 is a 5 building, three-story, multifamily complex comprised of spacious two-bedroom floors plans with luxury amenities and finishes. The spacious living and kitchen areas feature stainless steel appliances, granite countertops, walk-in closets, balconies, and in unit washer and dryer. The property is conveniently located next to the South Lansing Trail, and near local highways, restaurants, and shopping provides residents a great location close to everyday conveniences. Current owners have incurred over $2.2M in capital expenditures including, but not limited to, unit renovations, roofs, windows, appliances, flooring, and a new high efficiency boiler / hot water system.

FOR SALE DETAILS

PRICE

$5,850,000 USD

PRICE/SF

$90 USD /SF

# OF UNITS

74

PRICE/UNIT

$79,054

CAP RATE

7.09%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lansing 74 Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1978

PARKING SPACES

153

LAND DETAILS

LAND ACRES

4.82 AC

LAND SF

209,959 SF

ZONING

-

APN/PARCEL ID

01-05-04-277-043,01-05-04-277-051

ASK ABOUT THIS PROPERTY

Harry CohnSVN | Cohn Commercial Properties, Inc.More Info
248-851-5000

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Harry CohnSVN | Cohn Commercial Properties, Inc.More Info
248-851-5000

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