Income Property Organization is pleased to present the Red Door Portfolio, which consists of 11 properties with a total of 486 units, located in and around East Lansing, Michigan.
Lansing, Michigan’s 5th largest city, is a diverse community that offers residents a dynamic living environment with mix of urban conveniences and suburban comforts and tranquility. The local economy is equally well-diversified, with economic anchors such as the State Government (15,500 employees); Higher Education- Michigan State University (12,000 employees), Thomas M. Cooley Law School and Lansing Community College; Industry- General Motors (11,000 employees) and Healthcare- Sparrow Health System (6,000 employees) and Ingham Regional Medical Center (3,000 employees). Several national Insurance Companies are headquartered in Lansing- names such as Accident Fund, Auto-Owners, and Jackson National were all founded here. The current unemployment rate in Lansing is an impressive 4.2%, slightly better than the current state unemployment rate of 4.7%. This represents a significant decline from Lansing’s previous high of 10.9% in 2009, demonstrating the resurgence of the local economy.