501 N Walnut Street

Lansing, MI 48933 / Original of Lansing

MLS ID# 247442 Closed

Closed $104,975

6 units
5 parking spaces
sqft


Description

Fantastic Multifamily building in downtown Lansing within walking distance to the capital, Lansing Community College, Cooley Law School and many other places. The building is rented out by the room with each room having a mini fridge. Units share o... show more
  • Street # 501
  • Street Direction N
  • Street Name Walnut
  • Suffix Street
  • City Lansing
  • State MI
  • Zip Code 48933
  • Zip +4 1126
  • School District Lansing
  • Key Agent
  • TownshipTax Authority Lansing City
  • County Ingham
  • Subdivision Original of Lansing
  • Legal S 48 FT OF E 4 R LOT 6 BLOCK 72 ORIG PLAT
  • Directions On Walnut between Genesee and Lapeer

General Property Info

  • Building 1 Description 6 Unit by the room
  • # of Units 6
  • Year Built 1907
  • Above Grade Finished Area 2340
  • Living Area Source Assessor
  • Parking Total 5
  • Lot Size Dimensions 48x66
  • Lot Acres 0.07
  • ECO Friendly Features No

Tax Info

  • State Eq Value 59500
  • Eq Year 2020
  • Taxes 3753
  • Tax Year 2019
  • Parcel # 33-01-01-16-108-131
  • Taxable Value 59500
  • Taxable Value Year 2020
  • Zoning Commercial

Compensation Info

  • Buyer Agency Compensation 3.00%
  • Sub Agency Compensation $0.00

Details

  • Annual Inc & Expense

    Gross Rent:26040, Water/Sewer Expense:1615, Tax Expense:3767, Electricity:1615, Total Expense:9072, Less Fuel:1464, Insurance:611, Net Income:16968

  • Unit 1

    Monthly Income:370

  • Unit 2

    Monthly Income:350

  • Unit 3

    Monthly Income:350

  • Unit 4

    Monthly Income:450

  • Unit Information

    Registered/Licenses, License/Register Exp:2022-08-01, # Deposits:5, # Written Leases:5

  • Misc Business Info

    # Parking:5

  • Basement

    Crawl Space, Full

  • Exterior

    Brick

  • Parking Features

    Private

  • Water Source

    Public

  • Sewer

    Public Sewer

  • Roof

    Shingle

  • Patio & Porch Features

    Covered

  • Heating

    Forced Air, Natural Gas

  • Water Heater

    Gas Water Heater

  • Security Features

    Smoke Detector(s)

  • Utilities

    High Speed Internet Available

  • Land & Acreage

    Up to 1/4 Acre

  • Levels

    Two and One Half

  • Terms

    Cash, Conventional, FHA

  • Showing Requirements

    24 Hour Notice, Call Tenant, Key In Office, No Sign, Showing Time


This listing was last updated on 2021-05-12T00:42:46Z

The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.