228 Woodlawn Avenue, Lansing, MI 48910 (MLS# 243944)


$75,900
228 Woodlawn Avenue
Lansing, MI 48910
MLS# 243944



228 Woodlawn Avenue, Lansing, MI 48910
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228 Woodlawn Avenue, Lansing, MI 48910 228 Woodlawn Avenue, Lansing, MI 48910 228 Woodlawn Avenue, Lansing, MI 48910 228 Woodlawn Avenue, Lansing, MI 48910

Property Description
REO Town money maker. 3 units all rented. Walking distance to REO Town and Downtown. 1 block from the Bus line. Solid rental history. Licensed Rental with the City of Lansing, valid through 6/2020. Located in Reo Town and backs up to the river! Walk to Reo Town, Downtown, LCC. Bus Stop is 1 block away. Excellent opportunity for Investment and or Owner occupied. 3 units. (1) 3 bedroom unit, (1) 2 bedroom unit and (1) 1 bedroom unit. All tenants are on month to month leases allowing new owner to make changes faster. City of Lansing Rental License was renewed in spring of 2019. There are 3 electric meters, and 2 furnaces (one furnace covers 2 units). Solid money making investment. Newer windows, eves and hotwater heaters.

Details
Maps
None
Current Price: $75,900
Contract Info
Status: Active
Listing Date: 2020-02-02
List Price: $75,900
Location & Legal Info
Street #: 228
Street Name: Woodlawn
Suffix: Avenue
State: MI
Zip Code: 48910
Zip +4: 1465
School District: Lansing
Key: KBX
Township/Tax Authority: Lansing City
County: Ingham
Subdivision: Johnson
Legal: LOT 16 JOHNSONS ADD
Directions: Mt. Hope and S. Washington N to Woodlawn Ave W.
General Property Info
Building 1 Description: Multi family
# of Units: 3
Year Built: 1908
SqFt - Above Appx: 2207
Parking Total: 5
Lot Dimensions: 47x203.2
Lot Acres: 0.22
Tax Info
State Eq Value: 34700
Taxes: 2646.52
Tax Year: 2019
Parcel #: 33-01-01-21-328-281
Taxable Value: 30204
Zoning: Multi-Family
Remarks & Misc
Photo Instructions: Office Submit
Annual Inc & Expense
Gross Rent: 19800
Water/Sewer Expense: 2879
Tax Expense: 2531
Miscellaneous: 306
Total Expense: 8269
Less Fuel: 1743
Insurance: 800
Net Income: 10042
Unit 1
Unit: One
Rooms: 4
Baths: 1
Bedrooms: 3
Monthly Income: 600
Unit 1 Appliances
Ranges: 1
Unit 2
Unit: Two
Rooms: 5
Baths: 1
Bedrooms: 2
Monthly Income: 550
Unit 2 Appliances
Ranges: 1
Refrigerators: 1
Unit 3
Unit: Three
Rooms: 3
Baths: 1
Bedrooms: 1
Monthly Income: 500
Property Features
Basement: Full; Michigan
Exterior: Wood Siding
Driveway: Gravel
Water: Public
Sewer: Public Sewer
Roof: Shingle
Extras: High Speed Internet; High Speed Internet; High Speed Internet; High Speed Internet; High Speed Internet; Smoke Alarm
Garage: No Garage
Heating: Forced Air - Gas
Water Heater: Gas Natural
Land & Acreage: Up to 1/4 Acre
Type: Two Story
Terms: Cash; Conventional
Showing: 24 Hour Notice; Key Box; Sign on Property; Tenant

Listing Office: Real Estate One 1st

Listing Agent: Thomas and Nancy Hands

Last Updated: February - 13 - 2020

Information deemed reliable but not guaranteed.

Wednesday 26th of February 2020 11:08 AM