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329-337 S Washington Sq 11 Unit Apartment Building $1,950,000 ($177,273/Unit) 8.59% Cap Rate Lansing, MI 48933

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INVESTMENT HIGHLIGHTS

3 location/longterm lease anchor tenant
2,800 SF of unrented basement storage space

Hard corner visibility on S. Washington Square
Updated HVAC and roof coating

EXECUTIVE SUMMARY

3 location/longterm lease anchor tenant
Prime Downtown Lansing mixed-use asset
Hard corner visibility on S. Washington Square
9 residential apartment units
(6) 1 Bed / 1 Bath
(3) 2 Bed / 1 Bath
2 commercial tenants
Updated HVAC and roof coating
2,800 SF of unrented basement storage space

FINANCIAL SUMMARY (ACTUAL - 2025)	ANNUAL	ANNUAL PER SF
Gross Rental Income	$270,000	$14.44
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$270,000	$14.44
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$102,418	$5.48
Net Operating Income	$167,582	$8.96

FINANCIAL SUMMARY (ACTUAL - 2025)

Gross Rental Income
Annual	$270,000
Annual Per SF	$14.44

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$270,000
Annual Per SF	$14.44

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$102,418
Annual Per SF	$5.48

Net Operating Income
Annual	$167,582
Annual Per SF	$8.96

PROPERTY FACTS

Price	$1,950,000	Building Class	C
Price Per Unit	$177,273	Lot Size	0.33 AC
Sale Type	Investment	Building Size	18,700 SF
Cap Rate	8.59%	Average Occupancy	100%
No. Units	11	No. Stories	2
Property Type	Multifamily	Year Built/Renovated	1887/2007
Property Subtype	Apartment General Retail Storefront Retail/Residential	Parking Ratio	0.73/1,000 SF
Apartment Style	Low-Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	Commercial

Price	$1,950,000
Price Per Unit	$177,273
Sale Type	Investment
Cap Rate	8.59%
No. Units	11
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.33 AC
Building Size	18,700 SF
Average Occupancy	100%
No. Stories	2
Year Built/Renovated	1887/2007
Parking Ratio	0.73/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	Commercial