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    Property profile

    321 Butler Blvd Lansing, MI 48915

    OFF-MARKET
    Apartment buildings
    Property ID
    US43-5207155
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    Property summary

    AI-generated overview

    This exceptional investment opportunity presents a 35-unit multifamily portfolio located in Lansing, Michigan. Priced at $2,350,000, this Class B property boasts a compelling 7.74% cap rate and a price per unit of $67,143. The portfolio comprises three properties within a five-mile radius: Vincent Court Apartments (16 units), Butler Apartments (12 units), and Townsend Apartments (7 units). Vincent Court features 16 two-bedroom, one-bathroom units, averaging 800 square feet, each with updated kitchens, stainless steel appliances, new flooring, individual entrances, washer/dryer hookups, and dishwashers. Utilities are individually metered and tenant-paid. Butler Apartments includes 11 two-bedroom, one-bathroom units (averaging 850 square feet) and one one-bedroom, one-bathroom unit (850 square feet). These units also feature updated kitchens, stainless steel appliances, and new flooring. Electricity is individually metered and tenant-paid

    Property profile

    Verified
    Property type Apartment buildings
    UPID US43-5207155

    Cap rate & NOI

    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors

    Current use

    Occupant on record · Public records
    • Apartment Building
    1 occupant on record

    Location

    321 Butler Blvd Lansing, MI 48915
    Lansing metro
    Google Maps

    Value estimations

    Realmo proprietary · 4 methods
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    Owner & transaction history

    Comparables

    6 recent transactions · within 1.5 mi
    Comparable in this city
    6 recent transactions

    Comparable in this City

    • Value Estimation by Request
      Bancroft Ct
      VACANT COMMERCIAL LAND
      Bancroft Ct, Lansing, MI 48915
      View Details
    • Value Estimation
      $240,000
      4,348 SF
      1819 Glenrose Ave
      WAREHOUSE, STORAGE
      1819 Glenrose Ave, Lansing, MI 48915
      View Details
    • Value Estimation
      $265,000
      2,800 SF
      827 Saginaw St
      RETAIL STORES (PERSONAL SERVICES)
      827 Saginaw St, Lansing, MI 48915-1962
      View Details
    • Value Estimation
      $110,000
      1,784 SF
      400 Verlinden Ave
      BAR, TAVERN
      400 Verlinden Ave, Lansing, MI 48915-1279
      View Details
    • Value Estimation by Request
      2.39 Acres
      1711 Lansing Ave
      COMMERCIAL (GENERAL)
      1711 Lansing Ave, Lansing, MI 48915
      View Details
    • Value Estimation
      $175,000
      1,300 SF
      1404 Saginaw St
      RETAIL STORES (PERSONAL SERVICES)
      1404 Saginaw St, Lansing, MI 48915
      View Details

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    Recent comparable sales
    Sale price & price/SF · Sale date & distance · Adjustments & confidence
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