Lansing Apartments 2199 Lansing St 54 Unit Apartment Building $4,299,022 CAD ($79,612 CAD/Unit) Detroit, MI 48209
EXECUTIVE SUMMARY
Introducing a value-add investment opportunity in the heart of Detroit, MI: This multifamily mid-rise property at 2199 Lansing St. offers 36,009 SF of space, with 45 units, making it a promising asset for prospective investors. Built in 1925 and currently under some renovations, the property boasts a timeless appeal coupled with modern conveniences. Zoned CM, it presents versatile possibilities for development. With a 60% occupancy rate, there is significant potential for growth and increased returns. Don't miss the chance to capitalize on this sought-after asset in a thriving market, offering an ideal blend of history, charm, and future prosperity.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $4,299,022 CAD |
| Price Per Unit | $79,612 CAD |
| Sale Type | Investment |
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 36,184 SF |
| No. Stories | 4 |
| Year Built | 1925 |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 15 | - | 355 - 475 |
| 2+1 | 34 | - | 580 |
| 3+1 | 5 | - | 700 |
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PROPERTY TAXES
| Parcel Number | 16-000961 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,473,119 CAD |
ZONING
| Zoning Code | CM |
