This project features two buildings across the street from each other, situated between the UM/Sparrow Campus and Neogen. At 906 E Shiawassee, there are 22 units, including 16 spacious one-bedroom, one-bath apartments and six two-bedroom, one-bath apartments. Meanwhile, 911 E Shiawassee holds eight units, comprising seven one-bedroom, one-bath apartments and one two-bedroom, one-bath apartment. Currently, both buildings on E Shiawassee maintain a 100% physical occupancy and have consistently performed above market expectations for several years. Beyond occupancy, the property stands out for achieving improved rents on both renewals and new leases, despite current rents being significantly below market. E Shiawassee is a well-positioned asset near downtown Lansing, ready for new ownership with a value-add approach. Landlord pays water, sewer and heat. Tenant pays electric.
* This payment calculator is intended for educational and planning purposes only. ** Assumes 6.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. All information is deemed reliable but is not guaranteed.
Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.
