4221 N Grand River Avenue
Lansing, MI 48906

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Description

Skyline Apartments is a well-maintained 12-unit multifamily property located along Lansing's northwest Grand River corridor. Built in 1965 and renovated in 2023, the property totals 7,760 SF across one two-story building with a garden-level layout. The unit mix consists of eleven 2-bed/1-bath apartments and one 1-bed/1-bath unit, averaging 783 SF. Current occupancy is 100%, generating over $13,000 in monthly rent with additional upside through continued rent growth and operational efficiencies. Priced at $1,100,000 ($91,667/unit), Skyline offers investors a multifamily investment opportunity, supported by Lansing's strong employment base anchored by Michigan State University, Sparrow Health, and General Motors.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family Home
• Listing Status: Active
• County/Area: Ingham County
• Zip Code: 48906
• Year Built: 1965
• Subdivision/Neighborhood: Lansing City
• School District: Lansing
• Basement: Yes
• Lot Size: 12632 sq ft lot
• Construction Materials: Brick
• Directions: South of the entrance to the Capital Region International Airport (LAN)
• Extras: Laundry Facility
• Gross Income: 165772
• Heat Source: Natural Gas
• Heating: Baseboard
• Lot Size Area: 0.29
• Lot Size Square Feet: 12632.4
• Lot Size Units: Acres
• Main Type: Multi Family
• Operating Expense: 57554
• Parcel Number: 010106252241
• SEV: 283000
• Street Type: Paved
• Tax Annual Amount: 22241.44
• Tax Legal Description: LOT 98 & LOT 97 EXC W'LY 35 FT NORTHWESTERN SUB NO 3
• Total Approx Sq Ft All Bldgs: 7760
• Total Num Units: 12
• Township: Lansing City