Log In/Sign Up
Your email has been sent.
314-316 N Sycamore St 5 Unit Apartment Building $558,368 CAD ($111,674 CAD/Unit) 8.46% Cap Rate Lansing, MI 48933
INVESTMENT HIGHLIGHTS
- Walking distance to capital/government jobs
- Units with outdoor space
- Close proximity to other major employers (GM, Michigan State University, Sparrow Hospital)
EXECUTIVE SUMMARY
A TURNKEY INVESTMENT OPPORTUNITY IN VIBRANT LANSING!
Discover this meticulously maintained and significantly updated 5-unit multifamily property, ideally situated in the heart of Lansing. This offering presents a rare chance for investors to acquire a cash-flowing asset with immediate income and significant upside potential, particularly through its established mid-term rental unit.
Strategic location with easy access to downtown Lansing, local amenities, transportation, and employment hubs makes this property highly attractive to a wide range of tenants.
Investment Upside
Proven Mid-Term Rental Success: Leverage the existing furnished unit's success to potentially convert additional units, significantly boosting your overall revenue towards the $87,000 Mid-Term Market Annual Potential.
Strong Rental Market: Lansing's robust economy, growing population, and proximity to major universities (Michigan State University), state government, and healthcare facilities ensure consistent demand for rental properties.
Don't miss out on this exceptional opportunity to own a stable, income-generating asset with significant future potential in a thriving Michigan market!
Highlights
2025 Garage Roof
2024 Updated Electrical Panels
2023 Poured Concrete parking lot
2023 New boiler
2018 New roof and back decks
Finished hardwood floors
Successful furnished mid-term rental makes this an attractive value add opportunity to turn remaining 4 units and significantly increase NOI
Discover this meticulously maintained and significantly updated 5-unit multifamily property, ideally situated in the heart of Lansing. This offering presents a rare chance for investors to acquire a cash-flowing asset with immediate income and significant upside potential, particularly through its established mid-term rental unit.
Strategic location with easy access to downtown Lansing, local amenities, transportation, and employment hubs makes this property highly attractive to a wide range of tenants.
Investment Upside
Proven Mid-Term Rental Success: Leverage the existing furnished unit's success to potentially convert additional units, significantly boosting your overall revenue towards the $87,000 Mid-Term Market Annual Potential.
Strong Rental Market: Lansing's robust economy, growing population, and proximity to major universities (Michigan State University), state government, and healthcare facilities ensure consistent demand for rental properties.
Don't miss out on this exceptional opportunity to own a stable, income-generating asset with significant future potential in a thriving Michigan market!
Highlights
2025 Garage Roof
2024 Updated Electrical Panels
2023 Poured Concrete parking lot
2023 New boiler
2018 New roof and back decks
Finished hardwood floors
Successful furnished mid-term rental makes this an attractive value add opportunity to turn remaining 4 units and significantly increase NOI
FINANCIAL SUMMARY (ACTUAL - 2024) 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 |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) 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 | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | $558,368 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $111,674 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Cap Rate | 8.46% | Building Size | 6,348 SF |
| Gross Rent Multiplier | 5.9 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1917 |
| Property Type | Multifamily | Parking Ratio | 1.1/1,000 SF |
| Property Subtype | Apartment |
| Price | $558,368 CAD |
| Price Per Unit | $111,674 CAD |
| Sale Type | Investment |
| Cap Rate | 8.46% |
| Gross Rent Multiplier | 5.9 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 6,348 SF |
| No. Stories | 2 |
| Year Built | 1917 |
| Parking Ratio | 1.1/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Smoke Free
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 | 3 | $1,326 CAD | 750 |
| 2+1 | 2 | $1,605 CAD | 800 |
1 1
Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (70)
1 of 4
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Abundant Properties
314-316 N Sycamore St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.