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3501 Simken Dr
Lansing, MI 48910
Simken Apartments · Multifamily Property For Sale
·
12 Units
Investment Highlights
- 11,598 SF building with 12 units
- Renovated apartment interiors 2024/2026
- View of Beacon Park right outside the front door
- Established property built in 1966
- Prime location for retail and service industry workforce residents
- The combination of a quiet cul-de-sac location and park-side positioning creates a living environment that stands out in the marketplace
Executive Summary
Workforce Housing Investment Opportunity – 3501 Simken Dr, Lansing, MI
Located on a quiet, tree-lined cul-de-sac in Southeast Lansing, 3501 Simken Drive offers a compelling 12-unit multifamily investment opportunity in a stable, workforce-driven submarket. This property uniquely combines a peaceful residential setting with immediate access to parks, schools, and daily conveniences—making it highly attractive to long-term tenants.
Located on a quiet, tree-lined cul-de-sac in Southeast Lansing, 3501 Simken Drive offers a compelling 12-unit multifamily investment opportunity in a stable, workforce-driven submarket. This property uniquely combines a peaceful residential setting with immediate access to parks, schools, and daily conveniences—making it highly attractive to long-term tenants.
Property Facts
| Price Per Unit | $103,691 CAD | Lot Size | 0.73 AC |
| Sale Type | Investment | Building Size | 11,598 SF |
| Cap Rate | 7.49% | Average Occupancy | 67% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 1.64/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | CM - Commercial Zoned District | ||
| Price Per Unit | $103,691 CAD |
| Sale Type | Investment |
| Cap Rate | 7.49% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.73 AC |
| Building Size | 11,598 SF |
| Average Occupancy | 67% |
| No. Stories | 3 |
| Year Built | 1966 |
| Parking Ratio | 1.64/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | CM - Commercial Zoned District |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $973.19 CAD | 700 |
| 2+1 | 11 | $1,203 CAD | 900 |
Property Taxes
| Parcel Number | 01-01-32-101-391 | Improvements Assessment | $290,149 CAD |
| Land Assessment | $66,733 CAD | Total Assessment | $356,882 CAD |
Property Taxes
Parcel Number
01-01-32-101-391
Land Assessment
$66,733 CAD
Improvements Assessment
$290,149 CAD
Total Assessment
$356,882 CAD
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