645 E Jolly Rd Lansing, MI 48910
Sixteen-unit renovated multifamily property in Lansing, Michigan with strong cash flow.
Property size:
8,072 SFProperty Features for 645 E Jolly Rd
General Information
- Size
- 8,072 SF
Building Details
- Year built
- 1969
Source:
Svn
Listing Agent: John Gardner
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Renovated Multifamily Investment Opportunity
This 8,072 square foot building features 16 units, offering a cash-flowing investment opportunity in the Lansing area. The property is under renovation since 2024, combining modern amenities with classic charm. Renovations are achieving above-market rents. The location provides access to Lansing's business and cultural scene, with attractions such as the Lansing River Trail, Potter Park Zoo, and the Michigan State Capitol nearby. The property is located in the Lansing Public Schools District and near shopping, dining, and entertainment options like Edgewood Town Center, Celebration Cinema Lansing & IMAX, and Gravity Smokehouse Brew & Que. Outdoor recreation options include Kendon Park, Hope Sports Complex, and Hawk Island Park. Access to major roads such as I-96 and I-496 is excellent. Significant recent capital expenditures have been made. The property has a fully compliant and updated license with the City. The location is central Lansing. The tenants are credit-worthy and qualified. Tenant-paid utilities are in place.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Cedarway Apartments
Apartment Building
Jolly Ridge Apartments
Apartment Rental Agency
Location Insight
- Map
- Local Demand
- City
- Lansing
- County
- Eaton
- State
- Michigan
- Longitude
- -84.543456
- Latitude
- 42.68343
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FAQs
What type of property is this?
Apartment building - Sixteen-unit renovated multifamily property in Lansing, Michigan with strong cash flow.
Where is this apartment building located?
The property is located at 645 E Jolly Rd Lansing, MI.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: - High Cash Flow: This property boasts an impressive 8.8% Cap Rate.; - Above-Market Rents: Achieving above-market rents due to recent renovations, presenting strong upside.; - Prime Central Lansing Location: Unparalleled access to business, cultural attractions, and major roadways (I-96, I-496).