facebook tag
This website uses "cookies" to ensure you get the best experience on our website. Using this website means you're OK with it.
Note

Old Town Loft Apartments, 1206 Center St, Lansing, MI

Property Overview

Price/Rent PSF $ 275,168.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 4200.00
Date Available 12/11/2017
Additional URL Link
Search Demographic Data LandCheck Explore financing options
Click to add the listing to Saved Listings
You need to be logged in to do this. Click the link above to log in or register for free so you can do this
Copy iframe
You need to be logged in to do this. Click the link above to log in or register for free so you can do this
Make a Note
You need to be logged in to do this. Click the link above to log in or register for free so you can do this
Add to Listing Report
You need to be logged in to do this. Click the link above to log in or register for free so you can do this
Create Listing PDF
You need to be logged in to do this. Click the link above to log in or register for free so you can do this

Description

The Old Town Apartments are situated right off Grand River Ave and are One block from Turner St. This is a very rare opportunity to acquire modern and updated apartment lofts in a historic building in the Old Town neighborhood. The building is exactly what you might expect from Old Town. Quirky, with fun touches through out, exposed brick, hardwood floors, skylights and tile in natural tones throughout give the units a warm feeling. These are the apartments units that everyone is trying to recreate today. The units range from studio to 2 bedroom in size and all are heated by a modern steam boiler that still retains the classic steam radiators in the units. The property has ultra low maintenance grounds with natural planting eliminating the need for lawn services. The property is single meter for gas and electric and historic expenses show that the property has had a history of low expenses for years. An additional investment made int 2015 added extensive insulation to the property which reduced heating expenses while reducing noise between units. Also updated was the water heater and chimney liner. An extensive boiler update and efficiency moderation has also ensured that the property can keep residents comfortable regardless of the outside temperature. This property is being offered at a 10.5% cap rate which has been compiled from actual historical expenses and includes reserve for future capital expenditures. The property is fully occupied.

Location (Click here to view the location on the map.)
The information above is from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.

Please type your email and we'll send you the mail with all pdfs attached. You can also download each pdf from the list below.

You are not registered or logged in.

You must be registered or signed in for this action.