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5723 Richwood St, Lansing, MI 48911

Commercial property for sale

  • Description
  • Park Place Manor is a 80 unit apartment community consisting of 10, 8 unit buildings in a neighborhood setting. Located just off Pennsylvania Ave in Lansing, the apartments offer easy access to Interstate 96 and Interstate 127 and shopping within walking distance while still remaining in a quiet setting. One of the apartments has been converted to use as the management office, bringing the total number of rentable units to 79. Units are 850 sq ft with 32 units having gas forced air heat at the tenants expense and 48 with gas hot water heat at the landlord expense The property is currently renting at just below market but has enjoyed consistently low vacancy rates. The units have had improvements completed to the decks, parking surfaces and many kitchens in the past 3 years. A 30 year assumable note maturing in 2036 for 1.8 MM is available as part of the financing package. Bid deadline is October 6th at 5pm. Building price details: $2,750,000.
  • Property Details
  • Building Name: 80 Unit Apartment Complex in Lansing
    Property Type: Multifamily
    Use Types: Retail-Commercial, Business Opportunity
    Status: Available
    Price: $ 34,375 +/Unit
    Year Built: 1967
    Year Renovated: 2007
    MSA: Lansing-East Lansing
    Buildings: 10
    Broadband Internet: Cable, DSL
    Construction: Wood Frame
    Terms: Cash to Seller, Owner Financing, Other
    Added: 02/10/2012
  • Exterior Features
  • Parking: Yes
  • Contact info
  • 517-321-2800 [Office]
  • Note

  • Details Info about this row that located on 5723 Richwood St, Lansing, MI 48911 was got from trusty sources, but All Foreclosures Homes can't guarantee that details about listing price, status, facts, images and owner are correct, because this listing can be changed or removed from market without notice. If You need to receive additional details about this property try to ask directly listing agent or owned.

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