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$250,000
Est. payment /mo
5 Baths
3,920 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Lansing City
Subdivision Lansing City
MLS Listing ID 20250017791
Originating Board Realcomp
Year Built 1905
Annual Tax Amount $7,711
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 44.00 x 88.00
Property Description
Assume this home's 3.5% mortgage and save thousands annually! Great investment opportunity! This 4-unit multifamily property features a unit mix of (3) two-bedroom units and (1) one-bedroom unit, with tenants covering all utilities. Unit 4 is currently vacant, offering potential for a new tenant or owner-occupancy. The property includes four separate furnaces and multiple hot water tanks, with a new one installed in 2023, and functional stoves in all but one unit. With stable tenants and Section 8 rental support, this property presents a great opportunity for cash flow—don't miss out! FHA/VA financing may be considered; however, the property may require FHA/VA repairs that the seller may not be able to complete. An optimal FHA/VA offer would likely include the buyer covering up to a certain amount of repairs, with any remaining repairs to be addressed separately. Possible package deal available—seller may consider package discounts for a total of four buildings: 531 Bryant St, Kalamazoo, MI 49001, 130 S 8th St, Lansing, MI 48912, 1380 College Ave, Lincoln Park, MI 48146.Monthly rent: Apartment 1 - $787 Apartment 2 - $1099Apartment 3 - $1099Apartment 4 - vacant
Location
State MI
County Ingham
Zoning Multi-Family
Direction N of Eureka St / W of Hill St
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Sewer Public
Water Public
Structure Type Wood Siding
Schools
School District Lansing
Others
Tax ID 33010115303091
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
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Listed by S&P Realty
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Nick Schweihofer
Team Leader, Broker | License ID: 6506047709
Team Leader, Broker License ID: 6506047709
REVIEWS
- Nick did an awesome job in helping us find and purchase our condo. He listened to our wants and identified options and in the end we found a good fit for our needs for a vacation home Since we are far from Holland Nick set up a couple video tours to reduce travel. Thanks Nick for all the hard work and insight. We are very excited about our new home!Gordon L
- Nick was awesome to work with! I just went through the process of purchasing my first home and Nick couldn’t have made it any easier. He is super knowledgeable about the industry and the area. He answered all my questions and made sure to point out things I may not be thinking of since it was my first time going through the process. He was attentive, super responsive, easy to talk to, and truly cares about finding his clients a home they’ll love! I’m looking forward to working with him again in the future and would definitely recommend him as an agent!Emily Rzeszutko
- Nick was amazing to work with! This was my first time buying a house. Nick was very patient and took the time to walk me through everything and address all my questions. He was always quick to respond. He was clearly knowledgeable about the area and was great at pointing out and educating me on issues to watch for as we walked through houses. I absolutely recommend Nick to anyone buying or selling a home, and look forward to working with him again in the future!Kayla Kocal
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