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645 E Jolly Rd
Lansing, MI 48910
Jolly Flatz · Multifamily Property For Sale
·
16 Units
Investment Highlights
- 100% leased occupancy
- Originally built in 1969
- Stable workforce housing profile
- Renovated in 2024
- Central location supports a deep resident pool
- Strong cash flow opportunity
Executive Summary
Central location supports a deep resident pool with access to major employment centers, retail amenities, healthcare facilities, and more.
Property Facts
| Price Per Unit | $62,813 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 9.45% | Building Size | 11,800 SF |
| No. Units | 16 | Average Occupancy | 87% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1969/2024 |
| Apartment Style | Low-Rise | Parking Ratio | 2.48/1,000 SF |
| Zoning | Commercial - Commercial Zoned Property | ||
| Price Per Unit | $62,813 |
| Sale Type | Investment |
| Cap Rate | 9.45% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 11,800 SF |
| Average Occupancy | 87% |
| No. Stories | 2 |
| Year Built/Renovated | 1969/2024 |
| Parking Ratio | 2.48/1,000 SF |
| Zoning | Commercial - Commercial Zoned Property |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Linen Closet
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Smoke Free
- Private Bathroom
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | 700 |
| 2+1 | 7 | - | 850 |
Property Taxes
| Parcel Number | 01-01-33-484-001 | Improvements Assessment | $252,900 |
| Land Assessment | $64,000 | Total Assessment | $316,900 |
Property Taxes
Parcel Number
01-01-33-484-001
Land Assessment
$64,000
Improvements Assessment
$252,900
Total Assessment
$316,900
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