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645 E Jolly Rd
Lansing, MI 48910
Jolly Ridge Apartments · Multifamily Property For Sale
·
16 Units
INVESTMENT HIGHLIGHTS
- 13/16 Renovated units
- Located just off of Jolly/Cedar Intersection
- On-site laundry
EXECUTIVE SUMMARY
Prime multi-family investment opportunity in Lansing. This apartment complex features 13/16 newly renovated units with new kitchen appliances, new bathroom vanity and tubs. Units offer carpet throughout with vinyl plank flooring in the kitchen; air conditioning units in each apartment, laundry facilities on-site, surface parking.
Located just east of the high trafficked Jolly/Cedar intersection, convenient to community schools, south Lansing retail corridor, Holt, Okemos and more. Minutes from I-496 and I-96.
Located just east of the high trafficked Jolly/Cedar intersection, convenient to community schools, south Lansing retail corridor, Holt, Okemos and more. Minutes from I-496 and I-96.
PROPERTY FACTS
| Price Per Unit | $86,461 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 9.63% | Building Size | 8,072 SF |
| No. Units | 16 | Average Occupancy | 88% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1969 |
| Apartment Style | Low-Rise | Parking Ratio | 2.48/1,000 SF |
| Zoning | Commercial - Commercial Zoned Property | ||
| Price Per Unit | $86,461 CAD |
| Sale Type | Investment |
| Cap Rate | 9.63% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 8,072 SF |
| Average Occupancy | 88% |
| No. Stories | 2 |
| Year Built | 1969 |
| 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
- Laundry Facilities
- Private Bathroom
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 | $349,857 CAD |
| Land Assessment | $88,536 CAD | Total Assessment | $438,393 CAD |
PROPERTY TAXES
Parcel Number
01-01-33-484-001
Land Assessment
$88,536 CAD
Improvements Assessment
$349,857 CAD
Total Assessment
$438,393 CAD
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