Wilshire Apartments 3225-3227 Holiday Dr 23 Unit Apartment Building $2,472,500 ($107,500/Unit) 7.11% Cap Rate Lansing, MI 48912

ATTRACTIVE PROPERTY FUNDAMENTALS
Wilshire Apartments is a two building; two-story complex located just north of I-69 and east of US-127. Located near the Frandor area, near various shopping and dining opportunities as well as within short driving distance to Eastwood Town Center, MSU, and downtown East Lansing. Wilshire was built in 1965 and sits on 0.88 acres of land. The roof was replaced in 2021, and the complex has a brand-new parking lot, including underground storm connections, concrete dumpster pad and enclosure.
Wilshire Apartments consist of a singe one-bedroom unit (600 square feet), and 22 two-bedroom units (880 square feet). Over half, 12 of the units have seen renovations and 9 units receiving full upgrades including new windows, stainless steel appliances, granite countertops and LVP flooring. Each unit is serviced by hot water baseboard heat and sleeve AC units. The common area has been fully renovated, including windows and exterior doors, lighting, flooring, trim and paint. Every entry door is new with new signage.
IPO has seen drastic improvement in pricing over the course of the last 48 months, and it is our professional opinion that values will continue to trend upwards throughout 2026. Wilshire Apartments represents a stabilized asset with considerable upside potential that can provide handsome and steady returns to a multifamily investor for many years to come. To arrange a confidential tour of this asset and to view the actual operating data, please contact IPO.