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Listed by White Pine Sotheby's International Realty
$ 1,399,800
Est. payment /mo
New
2405 Forest AVE Lansing, MI 48910
1 Bath
4,356 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Cedaracre
MLS Listing ID 295607
Year Built 1924
Annual Tax Amount $2,269
Tax Year 2025
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 36.83x114.2
Property Sub-Type Multi Family
Source Greater Lansing Association of REALTORS®
Property Description
Residential Income Portfolio | 15 Properties | Offered at $1,400,000 13 Single-Family Residences & 2 Triplexes | 19 Total Units | Professionally Managed We are pleased to present for acquisition a stabilized residential income portfolio comprising thirteen single-family residences and two triplex properties, representing seventeen total rental units. The portfolio was assembled in December and has since been brought to 99% occupancy under continuous professional management. Valuation & Pricing An independent appraisal conducted at the time of acquisition established the portfolio's market value at $1,600,000. The portfolio is being offered at $1,400,000, representing a $200,000 discount to appraised value. The motivation for this pricing is straightforward: the seller has identified a 1031 exchange opportunity of compelling strategic merit, and the timeline associated with that transaction necessitates a prompt disposition of this portfolio. There are no deferred maintenance concerns, title complications, or operational issues driving this decision — the discount is entirely a function of the seller's capital redeployment objectives. Property Condition & Market Position The residences are in fair condition and situated in established, stable neighborhoods consistent with reliable long-term rental demand. The portfolio represents the type of durable, income-producing residential stock that institutional and private investors alike seek for steady cash flow and tenant retention. Properties have been priced and managed with occupancy and performance as the primary objectives. Management & Reporting Professional property management has been in place since the date of acquisition in December, providing the incoming owner with documented operational history, established tenant relationships, and a seamless management transition. Reporting, lease documentation, and financial records are available for qualified buyer review during due diligence. Investment Highlights • 19 income-producing units across 15 properties • 99% occupied at time of offering • Appraised value of $1,600,000 — offered at $1,400,000 • $200,000 in verifiable, day-one equity • Professional management in place with full reporting history • Stable neighborhoods with consistent rental demand • No lease-up risk — portfolio is fully stabilized Summary This offering presents a qualified investor with the uncommon opportunity to acquire a fully stabilized, professionally managed residential portfolio below independently established market value. The seller's position is motivated entirely by a time-sensitive 1031 exchange, and the resulting pricing reflects a genuine transfer of equity to the acquiring party. For an investor seeking immediate cash flow, verified value, and an operationally ready asset, this portfolio warrants serious consideration. Available upon execution of a non-disclosure agreement: full rent rolls, financial statements, lease documentation, appraisal, and property-level detail.
Location
State MI
County Ingham
Community Cedaracre
Direction GPS
Rooms
Basement Full
Interior
Heating Forced Air, Natural Gas
Cooling Central Air
Laundry In Basement
Exterior
Parking Features Garage
View Y/N No
Total Parking Spaces 2
Building
Lot Size Range 0.1
Sewer Public Sewer
Schools
High Schools Lansing
School District Lansing
Others
Tax ID 33-01-01-28-251-011
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
NEARBY SCHOOLS & PROPERTIES
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