Property Snapshot
Pennsylvania flatz
23 UNITS | BUILT 1966
1420 S Pennsylvania Ave | Lansing, MI 48910
Property Overview
- Units:
- Built:
- Buildings:
- Stories:
- Site Size / Acreage:
- SF:
- Average SF:
- Average In-Place Rent/SF:
Opportunity Highlights
1
Economic Occupancy
Presently situated at 96% physical occupancy with strong collections solidifies Pennsylvania Flatz as a uniquely well-positioned asset in the Lansing market.
2
Recent Leasing Activity
In addition to maintaining above 95% physical occupancy, ownership has executed multiple leases $25 over the property in-place rent average over the last 30 days.
3
Invested Capital Expenditures
The completed significant upgrades, including replacing appliances, AC units, and flooring in all units will be highly attractive to prospective buyers.
4
Transactional Market
The immediate market is experiencing transactions and listings at reasonable price points, that help support the asset's valuation and reinforces its competitive market positioning.
5
Low Maintenance Advantage:
The property's smaller scale allows for efficient self-management, enhancing cash flow by reducing operational costs and increasing overall profitability.
6
SBL Financing
The property's smaller scale makes it an ideal candidate for small bank loans, offering a streamlined entry into multifamily investing. This financing option is attractive to a broad buyer profile, providing accessible terms and manageable investment size.
7
Attractive Location
Pennsylvania Flatz offers accessibility to shopping, dining, parks, and entertainment, including Lansing Mall and the Michigan Princess Riverboat Experience. It's conveniently located near Michigan State University, General Motors, and provides easy access to I-96 and I-496.
Location
PHOTO GALLERY
Office & Contact Info
Detroit Office
260 East Brown Street, STE 150
Birmingham, MI 48009
Phone: 248.646.7701
Berkadia.com
Investment Sales
Kevin P. Dillon
Senior Managing Director
248.341.3309
[email protected]
Jason Krug
Senior Managing Director
248.341.3344
[email protected]
Corey Krug
Senior Director
248.341.3338
[email protected]
Rick Brace
Senior Director
248.341.3319
[email protected]
Conor David
Director
614.796.0222
[email protected]
EJ Wujek
Associate Director
248.341.3316
[email protected]
Mortgage Banking
Peter Benedetto
Senior Managing Director
248.208.3462
[email protected]
Jillian Maki
Director
248.208.3465
[email protected]
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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