$375,000
$425,000
11.8%For more information regarding the value of a property, please contact us for a free consultation.
Lansing, MI 48910
9 Baths
0.28 Acres Lot
Key Details
Sold Price $375,000
Property Type Commercial
Sub Type Income
Listing Status Sold
Purchase Type For Sale
Subdivision Pleasant Ridge
MLS Listing ID 265516
Year Built 1968
Annual Tax Amount $11,329
Tax Year 2021
Lot Size 0.280 Acres
Property Description
Lease values for all units comes to $5745 per month, $68940 a year! Proforma with market rents on the property would equal $6350 a month, $76200 a year conservatively with minimal expense on turns. Improvements with dishwashers, cabinets, counter tops and vanities could increase rents over the proforma an additional $100 per month! The exterior stairs and walk-way have almost $100k in improvements in the past 3 years, there are no further major expenses on the horizon for this property.
Location
State MI
County Ingham
Community Pleasant Ridge
Rooms
Ensuite Laundry Common Area, Lower Level
Interior
Laundry Location Common Area, Lower Level
Heating Baseboard, Hot Water
Cooling None
Flooring Carpet, Ceramic Tile
Laundry Common Area, Lower Level
Exterior
Exterior Feature Barbecue
Garage Asphalt
Utilities Available Water Connected, Sewer Connected, Natural Gas Connected, High Speed Internet Available, Electricity Connected, Cable Available
Building
Sewer Public Sewer
Schools
School District Lansing
Others
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
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