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MULTI-FAMILY : (68 Units) 927 S Washington Ave, Lansing, MI 48910 [OFF-MARKET]

Updated: 5 days ago

Multifamily Investment Opportunity














Price

$2,650,000


68 Units

3 Retail Units

2.14 acres


Great opportunity to invest in the capital city, Lansing, MI. This property is located just minutes away from Michigan State Capital, Lansing Community College, and Cooley Law School. After the renovation is completed this will be an amazing asset. Extra incentive because this is also located in an opportunity zone. Seller owns this property Free and Clear. All studios and 1 bedroom apartment units.

Washington Apartments is located in Lansing, the capital of Michigan. Located within a mile of Interstate 496, there is easy access to various cultural and economic hubs within the region. Additionally, with three retail spaces located in the building, there are opportunities to increase cash flows and diversify tenants.


Investment highlights include the below:

  • Low price per unit as compared to the market

  • This fully vacant property presents a strong redevelopment opportunity

  • There is potential to receive historic tax credits

  • The property is located in an opportunity zone

  • Seller financing is available

In a state with prominent urban hubs, Lansing– Michigan’s capital– is arguably the most important. With an unemployment rate hovering right around the national average, a major focus of Lansing’s economy is in public administration; the state government employs nearly 20,000 citizens hailing from the greater Lansing area. Another major player in the area’s economy is Michigan State University, the nation’s 12th largest college with over 50,000 undergraduates. MSU is one of country’s more notable institutions, and the Spartans excel in both academics and athletics. When employees of education and public administration are combined with all the employees working for the many health institutions, roughly 2/3rds of the greater Lansing area’s workforce is accounted for.


With a rich history of the arts–specifically music– Lansing is a great place to immerse oneself in the culture of Michigan. The Lansing Symphony Orchestra, Lansing JazzFest and the Old Town Bluesfest are all prime examples of how local consumers love to spend their time. Along with its emphasis on the arts, Lansing is known for it’s diverse food scene. With a wide array of restaurants, you can find menus with food from Myanmar’s cuisine to barbecue, and everything in between. With a great blend of employment opportunity to leisurely activities, Lansing is a great place to call home.


Please submit all offers directly to ericb@andersonandryan.com


Unit Mix


RENT COMPARABLES


Property Map



Harvest River Partners

Eric Brinson

Principal

Mobile: 615-987-7897


*Note* You DO NOT have permission to market this property in anyway to anyone on any social media platforms, email, or direct to someone you know. You DO NOT have permission to mark up the property for your profit. If you know someone who may want to invest with us on this property contact ericb@harvestriverpartners.com directly to discuss. This is an off-market investment opportunity.

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