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Chestnut Living Apartments 1216 N Chestnut St 7 Unit Apartment Building $380,221 CAD ($54,317 CAD/Unit) 14.10% Cap Rate Lansing, MI 48906
Executive Summary
This property, built in 1889, offers 7 units, providing an excellent entry point into the multifamily market. With 5 one-bedroom apartments and 2 studio apartments across 2,952 SF, this is a prime investment opportunity. Zoned R-6B, this property is located in a desirable area for potential renters. Don't miss the chance to own a piece of history and generate steady rental income.
- 100% Occupied
- 7 units across 2,952 SF
- 5 One bedroom apartments
- 2 Studios apartments
- Built in 1889
- Investors Opportunity
- Affordable entry point into the multifamily market
- 100% Occupied
- 7 units across 2,952 SF
- 5 One bedroom apartments
- 2 Studios apartments
- Built in 1889
- Investors Opportunity
- Affordable entry point into the multifamily market
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $380,221 CAD | Building Class | C |
| Price Per Unit | $54,317 CAD | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 3,500 SF |
| Cap Rate | 14.10% | Average Occupancy | 90% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1889/2024 |
| Property Subtype | Apartment | Parking Ratio | 2.29/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CM | ||
| Price | $380,221 CAD |
| Price Per Unit | $54,317 CAD |
| Sale Type | Investment |
| Cap Rate | 14.10% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 3,500 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1889/2024 |
| Parking Ratio | 2.29/1,000 SF |
| Zoning | CM |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $1,183 CAD | 700 |
| Studios | 2 | $1,002 CAD | 425 - 700 |
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 01-01-09-303-051 | Total Assessment | $170,383 CAD |
| Land Assessment | $38,755 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $131,628 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
01-01-09-303-051
Land Assessment
$38,755 CAD
Improvements Assessment
$131,628 CAD
Total Assessment
$170,383 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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Chestnut Living Apartments | 1216 N Chestnut St
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