Regency Townhomes

Sold | $4,600,000

Lansing, MI | Units: 56 | Price Per Unit: $82,142 | Avg Sq Ft: 1,215 | GRM: 6.47 | DSC: 1.22 | Year 1 ROI: 5.74% | Listing Agent: A.J. Beachum, J.D.

Location

Executive Summary

This community offers a diversified and extremely competitive unit mix comprised of 40 three-bedroom one bath units with approximately 1,100 square feet of living space, 6 three-bedroom / 1.5 bath units with approximately 1,100 square feet of living space, 4 three-bedroom / two-bath units with approximately 1,272 square feet of living space, and 6 four-bedroom / one-bath units with approximately 1,272 square feet of living space. The landlord is responsible for the water, and electric in the common areas. The building has individual furnaces for heating. The tenants are responsible for their own gas and electric. Regency Townhomes was built in 2000 and has been well maintained over the years with mature trees and landscaping.