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    1216 N Chestnut St Lansing, MI 48906

    For Sale
    $458,000

    Seven units, renovated in 2023, excellent investment opportunity.

    Property size:
    1,824 SF

    Property Features for 1216 N Chestnut St

    General Information

    Size
    1,824 SF

    Building Details

    Year built
    1889

    Source: Dave Robinson Agent Dave Robinson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multifamily Property with Seven Units

    This property features seven units, offering an entry point into the multifamily market. The property includes five one-bedroom apartments and two studio apartments across two buildings. The total size of the property is 2,952 square feet. The property was renovated in 2023. Zoned R-6B, the property is located in a desirable area for potential renters, north of Michigan Capital Building. An additional property is available to purchase as a package at 826 N. Walnut St.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chestnut Living Apartments Apartment Building Savi’s Trove Boutique

    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
    -84.557941
    Latitude
    42.747961

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    FAQs

    What type of property is this?
    Apartment building - Seven units, renovated in 2023, excellent investment opportunity.
    Where is this apartment building located?
    The property is located at 1216 N Chestnut St Lansing, MI.
    What is the asking price?
    The asking price for this property is $458,000.
    What are key features of this property?
    This property features: - 7 Units (5 one-bedroom, 2 studio) offering immediate rental income potential.; - Renovated in 2023, minimizing immediate maintenance concerns.; - Affordable entry point into the multifamily market.
    (517) 599-6846
    Request Owner's contact information
    1216 N Chestnut St Lansing, MI 48906
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    Lansing, MI 48906
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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
    1216 N Chestnut St Lansing, MI 48906
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