1612 S Washington Avenue, Lansing, MI 48910
Park Place · Ingham County
Key Facts
Description
TURNKEY INVESTMENT OPPORTUNITY IN LANSING! THIS LICENSED CITY OF LANSING RENTAL QUADPLEX OFFERS STRONG CASH FLOW & CONSISTENT NET RENTAL INCOME. THE PROPERTY FEATURES 4 UNITS INCLUDING 3- EFFICIENCY UNITS & ONE 1-BEDROOM UNIT, ALL WITH LONG-TERM TENANTS PROVIDING STABLE OCCUPANCY. LANDLORD CURRENTLY PAYS UTILITIES & THE PROPERTY STILL PRODUCES TREMENDOUS NET RENTAL INCOME, MAKING THIS AN ATTRACTIVE ADDITION TO ANY INVESTOR'S PORTFOLIO. TENANTS ENJOY THE CONVENIENCE OF ONSITE COIN-OPERATED LAUNDRY, PROVIDING ADDITIONAL INCOME STREAM FOR THE OWNER, AS WELL AS A LARGE PARKING LOT WITH PLENTY OF SPACE FOR BOTH TENANTS & GUESTS. PRIME LOCATION ON CATA BUS LINE & CLOSE TO DOWNTOWN LANSING, REO TOWN, & OLD TOWN WITH EASY ACCESS TO GROCERY & DINING. INVESTOR ALERT! SELLER HAS A 2ND RENTAL OPPORTUNITY TO PURCHASE THE ADJACENT PROPERTY AT 1614 S WASHINGTON, WHICH IS ALSO A QUADPLEX CURRENTLY FOR SALE CREATING THE POTENTIAL TO OWN EIGHT SIDE-BY-SIDE UNITS IN A STRONG RENTAL LOCATION. THIS IS AN EXCELLENT OPPORTUNITY FOR INVESTORS LOOKING TO EXPAND THEIR PORTFOLIO WITH A SOLID INCOME-PRODUCING PROPERTY.
Property Information
Property Type
Residential Income
Sub-Type
Quadruplex
Year Built
1890
Living Area
1,862 sq ft
Lot Size
0.14 acres
Lot Dimensions
40x148.5
Parking Spaces
4
Days on Market
73
MLS® Listing#
294468
Property Features
- Cooling:
- None
- Heating:
- Forced Air, Natural Gas
- Parking:
- Parking Lot
- Laundry:
- Common Area, Other
- Lot Features:
- City Lot
- Construction:
- Vinyl Siding
- Roof:
- Shingle, Wood
- Sewer:
- Public Sewer
- Water Source:
- Public
HOA & Tax
- Assessed Value:
- $63,548
- Parcel #:
- 33-01-01-21-378-121
Directions
MLK / W.BARNES AVE. EAST ON W. BARNES AVE TO ALLY AVE. NORTH ON ALLEY AVE TO PARKING LOT OF PROPERTY. PROPERTY FACES WASHINGTON AVE. PARKING BEHIND 4 UNIT ON ALLY AVE.
Affordability Calculator
$35,500
Estimated monthly payment
$945/mo
Principal $142,000 · Est. interest $198,103 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Lansing, MI
- 37
- Median Days on Market
- 1,380
- Median Sq Ft
- $129
- Median Price / Sq Ft
- 541
- Active Listings
- Its price per sq ft is 26% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Lansing, MI.
Location
- 1612 S Washington Avenue, Lansing, MI 48910
Nearby Schools
Michigan Association of Non-Public Schools
School · 0.9 mi away
Mt Hope Elementary School
Elementary · 0.9 mi away
Lansing School District
School · 1.0 mi away
Lansing Board of Education
School · 1.0 mi away
Lyons Elementary School
Elementary · 1.1 mi away
Elmhurst Elementary School
Elementary · 1.2 mi away
Cole Academy
School · 1.4 mi away
Little Scholars Preparatory School
School · 1.4 mi away
Presbyterian Church
Elementary · 1.4 mi away
Riddle Elementary School
Elementary · 1.5 mi away
Bingham Elementary School
Elementary · 1.5 mi away
Everett High School
Secondary · 1.6 mi away
Immaculate Heart of Mary
School · 1.6 mi away
Ingham Academy
Secondary · 1.7 mi away
J.W. Sexton High School
Secondary · 1.8 mi away
Resurrection School
School · 1.8 mi away
Communities in Schools of Michigan
School · 1.8 mi away
Cavanaugh Elementary School
Elementary · 1.8 mi away
Dwight Rich Middle School
Elementary · 1.8 mi away
Lewton Elementary School
Elementary · 1.9 mi away
Commute Calculator
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Moving Cost Estimate
EXIT Agents in Lansing
Listing Courtesy: Five Star Real Estate - Lansing - 5175070068
Presented by: John Hagerty, Jr.