130 S 8TH Street Active Save Request In-Person Tour Request Virtual Tour
Lansing,MI 48912
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Lansing City
Subdivision Lansing City
MLS Listing ID 20250017791
Originating Board Realcomp
Year Built 1905
Annual Tax Amount $7,711
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 44.00 x 88.00
Property Description
Assume this home's 3.5% mortgage and save thousands annually! Great investment opportunity! This 4-unit multifamily property features a unit mix of (3) two-bedroom units and (1) one-bedroom unit, with tenants covering all utilities. Unit 4 is currently vacant, offering potential for a new tenant or owner-occupancy. The property includes four separate furnaces and multiple hot water tanks, with a new one installed in 2023, and functional stoves in all but one unit. With stable tenants and Section 8 rental support, this property presents a great opportunity for cash flow—don't miss out!Existing mortgage with an unpaid balance of approximately $181,329.00 to be paid off at closing. Current monthly payment is $1,979.10 with about 26 years remaining. FHA/VA financing may be considered; however, the property may require FHA/VA repairs that the seller may not be able to complete. An optimal FHA/VA offer would likely include the buyer covering up to a certain amount of repairs, with any remaining repairs to be addressed separately. Possible package deal available—seller may consider package discounts for a total of four buildings: 531 Bryant St, Kalamazoo, MI 49001, 130 S 8th St, Lansing, MI 48912, 1380 College Ave, Lincoln Park, MI 48146. Monthly rent: Apartment 1 - $787 Apartment 2 - $1099Apartment 3 - $1099Apartment 4 - vacant
Location
State MI
County Ingham
Zoning Multi-Family
Direction N of Eureka St / W of Hill St
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Sewer Public
Water Public
Structure Type Wood Siding
Schools
School District Lansing
Others
Tax ID 33010115303091
Acceptable Financing Cash,Conventional,FHA,VA Loan
Listing Terms Cash,Conventional,FHA,VA Loan