Brookwood South and Lee Apartments 2 biens | Immeuble residentiel | À vendre | 1 176 268 € | Lansing, MI

The Hull Multifamily Advisors (HMA) are pleased to present the exclusive offering of Brookewood South (21 Units) and Lee Apartments (12 Units) in Lansing, MI. This two property, 33-unit multifamily portfolio allows investors ease of management with both properties being 1 mile apart in addition to being minutes from Michigan’s state Capitol and Michigan State University.

Brookewood South consists of (8) one bed one baths averaging 460 SF, (12) two bed one baths averaging 645 SF, and (1) studio that is 252 SF. Each unit is individually metered for tenant paid electric, while the landlord is responsible for gas boiler heat and water. Residents can enjoy some updated units, individual entrances, and coin operated laundry.

Lee Apartments consists of (12) two bed one bath units averaging 806 SF. This asset is individually metered for tenant paid electricity, while the landlord pays for the gas boiler heat and water. Residents are also able to enjoy some updated units, coin operated laundry, ample parking, and being located close to downtown Lansing.

Listed at $40,909 per unit and an 8.08% cap rate, this offering presents investors with a substantial value add opportunity. After doing an in-depth rent comp study on page 15 in the offering memorandum, it has been determined that current rents are on average $225-$275 below market. If an investor were able to successfully increase all rents by an average of $225, it could increase the assets value by over $1,000,000 (using an 8% cap rate). Please contact HMA for more information before this substantial value add opportunity is gone.