Multifamily Property for Sale in Detroit, MI

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Detroit, MI 48209

Description

The Lansing Apartments presents the opportunity to acquire a 54-unit value-add multifamily asset located in Detroit’s rapidly improving Southwest submarket, just minutes from the new Riverside Park and Detroit Riverfront expansion project. The property offers immediate in-place cash flow with significant upside through the renovation and lease-up of remaining vacant units. Major capital improvements have already been completed, including roof, windows, structural, and mechanical upgrades, substantially reducing near-term capital expenditure requirements. Additionally, the offering includes an adjacent parcel with the potential to create 25+ parking spaces, enhancing functionality and long-term tenant appeal. Offered at an attractive basis relative to replacement cost and stabilized value, The Lansing Apartments provides investors with a compelling opportunity to capitalize on both operational upside and continued neighborhood growth. Investment Highlights: • 54-Unit Value-Add Multifamily with Immediate Cash Flow and Lease-Up Upside • Major Capital Improvements Completed, Reducing Near-Term Execution Risk • Adjacent Parcel Offers Potential for 25-Plus Future Parking Spaces

Market Context

This multifamily in Detroit, MI is listed for sale. It has been on the market for 67 days. Compare it against other multifamily listings for sale in Detroit, MI — <a href="/search/sale/multifamily/michigan/detroit">view the full market</a>.

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