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    602 N Pennsylvania Ave Lansing, MI 48912

    For Sale
    $165,000

    MULTI_FAMILY - Lansing, MI

    Lot size:
    0.15 Acres
    Days on Market:
    39
    Last Refresh:
    Dec 5 at 1:06 am

    Property Features for 602 N Pennsylvania Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    33-01-01-15-126-061
    Parking
    3
    Parking features
    On Street, Garage
    Basement
    Crawl Space, Full
    Appliances
    Gas Water Heater
    Lot size
    0.15 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Radiant, Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1872
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Vinyl, Wood, Carpet
    Building materials
    Vinyl Siding
    Roof type
    Flat, Shingle

    Keller Williams Realty (517) 853-1200 [email protected]

    Listing agent Thomas Barrett (517) 449-2930 License #6501422144

    Listing date Oct 28, 2025

    Copyright © 2025 Greater Lansing 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 Multifamily Investment Opportunity

    This occupied four-unit multifamily property is located just two blocks from U of M Health - Sparrow Hospital. The property features one three-bedroom unit, two one-bedroom units, and one efficiency unit. The property benefits from MSHDA subsidized tenants, providing steady, guaranteed rental income and long-term tenants, ensuring stable occupancy and low turnover. The property is fully rented with a solid rental history, offering instant cash flow. A new boiler has been installed, reducing maintenance costs. The property's proximity to medical facilities, public transit, and amenities makes it a desirable rental location. The lot size is 0.15 acres. The property is being sold 'As is'.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Eaton
    State
    Michigan
    Longitude
    -84.537343
    Latitude
    42.739841

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    FAQs

    What type of property is this?
    Quadplex - Four-unit multifamily property near U of M Health - Sparrow Hospital.
    Where is this quadplex located?
    The property is located at 602 N Pennsylvania Ave Lansing, MI.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: - MSHDA subsidized tenants provide steady, guaranteed rental income.; - Fully rented with solid rental history ensures instant cash flow.; - Proximity to U of M Health - Sparrow Hospital makes it a desirable rental location.
    (517) 449-2930
    Request Owner's contact information
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    Lansing, MI 48912
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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
    602 N Pennsylvania Ave Lansing, MI 48912
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