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$ 740,000
Est. payment /mo
Active
6301 FRANK N DOT Lansing, MI 48917
12 Baths
0.55 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Delta Twp
Subdivision Delta Twp
MLS Listing ID 20250013649
Originating Board Realcomp
Year Built 1972
Annual Tax Amount $9,534
Lot Size 0.550 Acres
Acres 0.55
Lot Dimensions 150x150
Property Description
SHOWINGS MARCH THURSDAY, MARCH 13TH BETWEEN 10 AM AND 1 PM. The Frank N Dot Apartments consist of 7 units (5 of them are townhomes) nestled in Waverly, a superb of Lansing, MI. The property consists of two 1 bedroom apartments (600 SF) and five 2 bedroom 1.5 bath townhomes + basements (1,200 SF). With a full occupancy rate, this investment opportunity brings in a solid $8,878 per month, promising a lucrative return on investment.All 7 units are in one building - which was built in 1972 and completed renovated in 2023. Each unit is equipped with a window air conditioning unit, along with baseboard heat. There are 10 parking spaces for the 7 units. The units are separately metered for electric which the tenant puts in their name. The heat is supplied through baseboard electric heat - so the tenant pays for heat as well. The landlord pays for water, sewer and trash but has the ability to bill this back to the tenants under the current lease. Most properties in the area bill back for these utilities, so there is opportunity to increase value through collecting RUBS. The current owner has invested significant capital back into the property renovating each unit. The upgraded units include new counters, cabinets and appliances in the kitchen. LVT planking in the kitchen, bedrooms, and bathroom. New carpet and paint in each unit. Updated bathrooms with new vanities and tubs. The basements have been re-rinished and are extremely clean, with their own washer and dryer and hot water tank. Each unit has its own private basement, except for unit 7.
Location
State MI
County Eaton
Area Eaton County - E
Zoning Multi-Family
Direction Lansing
Interior
Heating Baseboard, Hot Water
Exterior
View Y/N No
Building
Sewer Public
Water Public
Structure Type Shingle Siding
Schools
School District Grand Ledge
Others
Tax ID 04004870032000
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Greater Development LLC