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737-739 Louisa St
Lansing, MI 48911
46 Unit Apartment Building - Proven Success · Multifamily Property For Sale
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46 Units
PROPERTY FACTS
| No. Units | 46 | Building Size | 37,200 SF |
| Property Type | Multifamily | Average Occupancy | 91% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1971 |
| Building Class | C | Parking Ratio | 2.45/1,000 SF |
| Lot Size | 0.82 AC |
| No. Units | 46 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.82 AC |
| Building Size | 37,200 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built | 1971 |
| Parking Ratio | 2.45/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Patio
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Picnic Area
- Tenant Controlled HVAC
- Walk-Up
ABOUT 737-739 LOUISA ST , LANSING, MI 48911
Cary Apartments is a 46 unit, 2 building complex, Featuring a mix of one and two bedroom units, carports and a quiet setting, the Cary Apartments provides a well maintained home for its residents. With many long term tenants, Cary Apartments enjoys consistently low vacancy rates which produce stable investment yields. The building have security doors with intercom and buzz in capabilities. A patio seating area is situated in a secluded and shaded corner of the property and contains chairs, and picnic area. All units have dishwashers and disposals. Each building has a laundry room with washers and dryers owned by the complex. Currently, rents are significantly below market, representing a value add opportunity for a new owner to build long term cash flows. One two bedroom unit is used as a managers office. This could be used as incentive for an onsite manager or a smaller unit used as the office, adding additional value to the property. The landlord provides central boiler heat, trash, water and sewer. Each unit has its own electric. Just North of I-96 at Pennsylvania Ave located on Lansing's Southside. The location, within walking distance of shopping and public transportation has easy highway access for its residents
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $795,100 | |
| Land Assessment | $184,000 | Total Assessment | $979,100 |
PROPERTY TAXES
