Quadplex With Separate
For Sale
$339,900
5708 Hughes Rd, Lansing, MI 48911
Leased residential income property with tenant-paid utilities, off-street parking, and outdoor space.
Property Size3,456 SF
Price / SF$98.35
Days on Market78
Property Features for 5708 Hughes Rd
General Information
Standard status
Active
Size
3,456 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Average Monthly Rent
$1,100
Amenities
separate entrances
off-street parking
outdoor space
Listing Agency:
EXP Realty, LLC
(888) 501-7085
Listed By:
Mohamed Abukar · License #6506049101
(517) 505-4915
Source:
Exprealty
Added: Aug 12
Changed: Oct 25
Last Checked: Oct 26 at 9:29PM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
This 3,456-square-foot quadplex contains four two-bedroom, one-bath units with separate entrances and practical residential layouts. Each residence includes one full bathroom, while the property also provides off-street parking and outdoor space. All four units are currently leased, establishing an occupied multifamily asset at closing. Tenants pay their own utilities, while ownership handles landscaping and trash service.
Located at 5708 Hughes Rd in Lansing, MI, the property is configured for long-term rental use with four individual residences. The combination of separate access points, dedicated parking, and tenant-paid utilities supports straightforward day-to-day operation.
Located at 5708 Hughes Rd in Lansing, MI, the property is configured for long-term rental use with four individual residences. The combination of separate access points, dedicated parking, and tenant-paid utilities supports straightforward day-to-day operation.
Key Highlights
- Four‑unit quadplex with 3,456 square feet
- Each unit includes 2 bedrooms and 1 full bath
- All 4 units are currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,215
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$624,300
$624.3K
Cap Rate 7%
$445,929
$445.9K
Cap Rate 9%
$346,833
$346.8K
Market Conditions
NOI Build-Up for 3,456 SF
Gross rent
$47.7K $13.80/SF
− Vacancy
−$3.1K −$0.90/SF
EGI
$44.6K $12.90/SF
− OpEx
−$13.4K −$3.87/SF
NOI
$31.2K $9.03/SF
Area
Lansing, MI
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$624,300
Cap Rate 7%
$445,929
Cap Rate 9%
$346,833
Alternative Uses
Best Use
Multifamily LT 5
$445.9K
$390.2K – $520.3K
NOI $31,215 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$400.4K
$350.4K – $467.1K
NOI $28,028 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$711.4K
$622.5K – $830.0K
NOI $49,797 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
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Business Placement
Demographics for 48911, MI
40,566
Population
18,069
Households
2.2
Avg Household Size
36
Median Age
26%
College-Educated
90%
High-School Grad
17.3 sq mi
ZIP Area
2,345
Density / Sq Mi
$54,882
Median Household Income
$36,245
Median Earnings
$933
Median Rent
$136,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Leased residential income property with tenant-paid utilities, off-street parking, and outdoor space.
Where is this quadplex located?
The property is located at 5708 Hughes Rd Lansing, MI.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Four‑unit quadplex with 3,456 square feet; Each unit includes 2 bedrooms and 1 full bath; All 4 units are currently leased
