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$ 240,000
Est. payment /mo
Price Dropped by $10K
130 S 8TH Street Lansing, MI 48912
5 Baths
3,920 Sqft Lot
UPDATED:
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
Listed by S&P Realty