19
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$1,050,000
Est. payment /mo
12 Baths
7,760 SqFt
Price Dropped by $50K
4221 N Grand River Avenue Lansing, MI 48906
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Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,760 sqft
Price per Sqft $135
Subdivision Mi
MLS Listing ID 60951878
Full Baths 12
Year Built 1965
Annual Tax Amount $22,241
Lot Size 0.290 Acres
Acres 0.29
Lot Dimensions Irregular
Property Sub-Type Multi-Family
Property Description
Skyline Apartments is a well-maintained 12-unit multifamily property located along Lansing's northwest Grand River corridor. Built in 1965 and renovated in 2023, the property totals 7,760 SF across one two-story building with a garden-level layout. The unit mix consists of eleven 2-bed/1-bath apartments and one 1-bed/1-bath unit, averaging 783 SF. Current occupancy is 100%, generating over $13,000 in monthly rent with additional upside through continued rent growth and operational efficiencies. Priced at $1,100,000 ($91,667/unit), Skyline offers investors a multifamily investment opportunity, supported by Lansing's strong employment base anchored by Michigan State University, Sparrow Health, and General Motors.
Location
State MI
County Ingham
Area Lansing (33021)
Zoning Commercial
Rooms
Basement Common, Poured, Partially Finished
Interior
Heating Baseboard
Fireplace No
Exterior
Exterior Feature Brick
Amenities Available Laundry Facility
Building
Foundation Basement
Structure Type Brick
Schools
School District Lansing Public School District
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by OakPointe Real Estate Advisors