Harvest House & Juniper Square

Under Contract | $15,000,000

Lansing, MI | Units: 260 | Price Per Unit: $57,692 | Avg Sq Ft: 791 | GRM: 5.64 | Cash Flow: 398,901.00 | Year 1 ROI: 10.64% | Listing Agent: A.J. Beachum & Joe Crane

Location

Executive Summary

This community boasts 260 spacious studio, one-bedroom, and two-bedroom apartment homes, each measuring between 500-850 square feet. Harvest House & Juniper Square were built in 1967 and consist of 20 buildings. Over the past two years, the property has seen over $400k of capital improvements to include over $250k in unit renovations. While the occupancy at Harvest House & Juniper Square had been low due to the extensive unit renovation plan, the improved rents ownership is achieving on renewals