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    602 Pennsylvania Ave Lansing, MI 48912

    Sponsored
    For Sale
    $219,000

    Four-unit apartment building, prime location.

    Description

    Added:
    Jan 24, 2025
    Days on Market:
    348
    This exceptional four-unit apartment building presents a compelling investment opportunity in Lansing, Michigan. Situated on a 0.15-acre lot at 602 N Pennsylvania Ave, 48912, this property enjoys a highly desirable location near Sparrow Hospital and Lansing Eastern. The building, constructed in 1872, is zoned for residential use and features a diverse mix of units to cater to a broad range of tenants. The unit configuration includes one spacious three-bedroom unit, two well-appointed one-bedroom units, and one efficient studio unit. A recently installed newer boiler ensures energy efficiency and minimizes maintenance expenses, contributing to a strong return on investment. The property's APN is 33-01-01-15-126-061. This turnkey investment is priced at $219,000 and offers significant potential for steady rental income and long-term appreciation. Its convenient location and varied unit sizes make it an attractive option for a wide range of renters. This is a rare opportunity to acquire a well-maintained multifamily property in a thriving area of Lansing. Don't miss out on this chance to add a valuable asset to your portfolio.

    Property Features for 602 Pennsylvania Ave

    General Information

    Property type
    Multifamily properties
    Lot Size
    6,534 SF

    Building Details

    Year Built
    1872
    Units
    4

    HighLights

    • $219,000 asking price for a four‑unit apartment building.
    • Multifamily property with four units.
    • Built in 1872, located in Lansing, MI.
    • 0.15‑acre lot, APN 33‑01‑01‑15‑126‑061, zoned residential.
    • Unit mix includes one 3‑bedroom, two 1‑bedroom, and one studio apartment.
    • Features a newer boiler.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    Ingham
    State
    Michigan
    Longitude
    -84.5374336
    Latitude
    42.7398446

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    FAQs

    What type of property is this?
    Multifamily property - Four-unit apartment building, prime location.
    Where is this multifamily property located?
    The property is located at 602 Pennsylvania Ave Lansing, MI.
    What is the asking price?
    The asking price for this property is $219,000.
    What are key features of this property?
    This property features: $219,000 asking price for a four-unit apartment building.; Multifamily property with four units.; Built in 1872, located in Lansing, MI.
    Request Owner's contact information
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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 Pennsylvania Ave Lansing, MI 48912
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