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    509 N Walnut St Lansing, MI 48933

    For Sale
    $85,000

    MULTI_FAMILY - Lansing, MI

    Lot size:
    0.12 Acres
    Days on Market:
    133
    Last Refresh:
    Dec 11 at 3:06 pm

    Property Features for 509 N Walnut St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 5, Bedroom 2, Bedroom 3, Basement, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2
    Bedrooms
    5
    APN
    33-01-01-16-108-151
    Parking
    4
    Basement
    Full
    Lot size
    0.12 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1903
    Number of units
    2
    Building materials
    Vinyl Siding

    Cody & Co. (616) 240-6590

    Listing agent Ricardo S Cottengim (616) 229-9877

    Listing date Aug 1, 2025

    Copyright © 2025 Montcalm County Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lansing Multi-Family Investment Opportunity

    Located in Lansing, Michigan, this multi-family property is fully rented with stable tenants, offering immediate cash flow. The property is situated minutes from the state capital and downtown entertainment districts, providing convenient access to local amenities, government offices, and downtown attractions. The property is being sold ''As is'' and requires replacement of knob and tube wiring. There is potential to increase property value and rental income through cosmetic improvements, upgrades, or operational efficiencies. The existing layout offers flexible options for renovations to modernize units and boost rental rates. The property is located on a 0.12-acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Eaton
    State
    Michigan
    Longitude
    -84.557218
    Latitude
    42.738973

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    FAQs

    What type of property is this?
    Duplex - Fully rented multi-family property near downtown Lansing.
    Where is this duplex located?
    The property is located at 509 N Walnut St Lansing, MI.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: - Fully rented multi-family property with stable tenants provides immediate cash flow.; - Prime location in Lansing, minutes from the state capital and downtown entertainment districts.; - Significant potential to increase property value and rental income with updates.
    (616) 229-9877
    Request Owner's contact information
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    Lansing, MI 48933
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    509 N Walnut St Lansing, MI 48933
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