13
See all 13 photos
$740,000
Est. payment /mo
12 Baths
7,542 SqFt
Pending
6301 FRANK N DOT Lansing, MI 48917 2400
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Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 7,542 sqft
Price per Sqft $98
Subdivision Mi
MLS Listing ID 60373699
Style 2 Story
Full Baths 7
Half Baths 5
Year Built 1972
Annual Tax Amount $9,534
Lot Size 0.550 Acres
Acres 0.55
Lot Dimensions 150x150
Property Sub-Type Multi-Family
Property Description
SHOWINGS MARCH THURSDAY, MARCH 13TH BETWEEN 10 AM AND 1 PM. The Frank N Dot Apartments consist of 7 units (5 of them are townhomes) nestled in Waverly, a superb of Lansing, MI. The property consists of two 1 bedroom apartments (600 SF) and five 2 bedroom 1.5 bath townhomes + basements (1,200 SF). With a full occupancy rate, this investment opportunity brings in a solid $8,878 per month, promising a lucrative return on investment. All 7 units are in one building - which was built in 1972 and completed renovated in 2023. Each unit is equipped with a window air conditioning unit, along with baseboard heat. There are 10 parking spaces for the 7 units. The units are separately metered for electric which the tenant puts in their name. The heat is supplied through baseboard electric heat - so the tenant pays for heat as well. The landlord pays for water, sewer and trash but has the ability to bill this back to the tenants under the current lease. Most properties in the area bill back for these utilities, so there is opportunity to increase value through collecting RUBS. The current owner has invested significant capital back into the property renovating each unit. The upgraded units include new counters, cabinets and appliances in the kitchen. LVT planking in the kitchen, bedrooms, and bathroom. New carpet and paint in each unit. Updated bathrooms with new vanities and tubs. The basements have been re-rinished and are extremely clean, with their own washer and dryer and hot water tank. Each unit has its own private basement, except for unit 7.
Location
State MI
County Eaton
Area Delta Twp (23006)
Zoning Multi-Family
Rooms
Basement Partially Finished
Interior
Heating Baseboard, Hot Water
Fireplace No
Building
Story 2 Story
Foundation Basement
Water Public Water
Schools
School District Grand Ledge Public Schools
Others
Ownership Private
Energy Description Natural Gas
Financing Conventional
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Listed by Greater Development LLC