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    645 E Jolly Rd Lansing, MI 48910

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    For Sale
    $999,000

    Sixteen-unit renovated multifamily property in Lansing, Michigan with strong cash flow.

    Property size:
    8,072 SF

    Property Features for 645 E Jolly Rd

    General Information

    Size
    8,072 SF

    Building Details

    Year built
    1969

    Source: John Gardner 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

    Suggested Use

    Realty agency Law Firm Restaurant 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
    -84.543456
    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).
    (313) 405-3510
    Request Owner's contact information
    645 E Jolly Rd Lansing, MI 48910
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    Lansing, MI 48910
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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
    645 E Jolly Rd Lansing, MI 48910
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