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Multifamily Investment Opportunity in Lansing

3501 Simken Drive, Lansing, MI 48910

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For Sale

$795,000

Multifamily property with 12 units in a desirable Lansing location.

Type:Multifamily

Property size:

7,732 SF

Price / SF:

$102/SF

HighLights

Prime multifamily investment property in Lansing, MI.
7,732 SF building with 12 well‑appointed units.
Zoned for multifamily residence (MFR).
Established presence in a desirable Lansing location.
Strong investment potential with excellent market demand.
Solid rental history.

We can help!

Listing Contact

Andrew Bonam

Learn more

For Sale

$795,000

Multifamily property with 12 units in a desirable Lansing location.

Type:Multifamily

Property size:

7,732 SF

Price / SF:

$102/SF

Added:: Feb 25, 2026
Days on Market:: 106
Last Refresh:: Feb 25 at 10:01 pm

Property Features for 3501 Simken Drive

General Information

Standard status: Active
Size: 7,732 SF
Property subtype: Multifamily

Building Details

Year Built: 1966

We can help!

Listing Contact

Andrew Bonam

Listing agent Andrew Bonam License #MI #6501445490

Listing office SVN | Stewart Commercial Group, LLC

Listing date Feb 25, 2026

Source Svna2

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

All listing content including descriptions, pricing, images are the copyrighted material of SVN | Stewart Commercial Group, LLC

HighLights

Prime multifamily investment property in Lansing, MI.
7,732 SF building with 12 well‑appointed units.
Zoned for multifamily residence (MFR).
Established presence in a desirable Lansing location.
Strong investment potential with excellent market demand.
Solid rental history.

Overview

This multifamily property, located in Lansing, Michigan, presents an investment opportunity. Constructed in 1966, the building spans 7,732 square feet and comprises 12 units. The property is zoned for multifamily residence (MFR). The property is a low-rise garden style complex. The location is considered desirable for renters, with convenient access to amenities. The property has a solid rental history and excellent market demand.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$121.5k	$15.72
− Vacancy	−$7.5k	−$0.97
EGI	$114.0k	$14.75
− OpEx	−$51.3k	−$6.64
NOI	$62.7k	$8.11

7,732 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$895.8K

$783.8K – $1.05M (±1% cap)

NOI $62,706 @ 7.0% cap · market cap 7.89%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.59M

$1.39M – $1.86M (±1% cap)

NOI $111,410 @ 7.0% cap · market cap 14.01%

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

Location Intelligence

Current Use by Public Records

Simken Apartments Apartment Building

Suggested Use

Location Insight

Map
Local Demand

City: Lansing
County: Eaton
State: Michigan
Longitude: -84.57967
Latitude: 42.696565

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For sale
Apartment buildings
MI
Lansing
48910
3501 Simken Drive

What type of property is this?

Apartment building - Multifamily property with 12 units in a desirable Lansing location.

Where is this apartment building located?

The property is located at 3501 Simken Drive Lansing, MI.

What is the asking price?

The asking price for this property is $795,000.

What are key features of this property?

This property features: Prime multifamily investment property in Lansing, MI.; 7,732 SF building with 12 well‑appointed units.; Zoned for multifamily residence (MFR).

3501 Simken Drive, Lansing, MI 48910

Multifamily property with 12 units in a desirable Lansing location.

Property Features for 3501 Simken Drive

General Information

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Freestanding Retail Building with Drive-Thru

Freestanding Bank Building with Drive-Thru

Professional Office Building with Parking

Downtown Lansing Commercial Building

Move-in Ready Lansing Church Facility

Corporate Headquarters Near Airport

Lansing Commercial Income Property

Creative Industrial Headquarters in REO Town

Mixed-Use Building in Old Town

Freestanding Retail Building with Drive-Thru

Freestanding Office and Drive-Through

Two-Story Lansing Commercial Property

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