WALDEN WOODS / 30 UNITS
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The Lansing 3 portfolio (136 units) includes Highland, Walden Woods, and MadGrey. With a total of 136 units, the portfolio will present a prospective investor with a unique opportunity to acquire three stabilized assets in a flourishing student and conventional apartment market.
The operational efficiency of the assets plus superb market metrics are features that will elevate the Lansing 3 portfolio as a highly desirable multifamily investment opportunity. Unit mix is broken down as follows: Highland consists of 58 units with an average of 584 SF (45 one-bedrooms, and 11 two-bedrooms, and one three-bedroom), MadGrey is 48 units with an average of 747 SF (17 one-bedrooms, 31 two-bedrooms), Walden Woods is 30 units with an average of 533 SF (25 one-bedrooms & five two-bedrooms).
Conventional and student residents are attracted to the properties due to the quality locations with proximity to MSU and all of the surrounding freeways. The residents enjoy a comfortable lifestyle surrounded by all the benefits of a positively trending market. Further advancement of both the properties and overall East Lansing market will rely heavily upon continued growth of Michigan State University and the various major employers/institutions. These exceptional features coupled with prominence in the East Lansing market, ensure the long-term viability and success of the portfolio.
Portfolio Summary
Favorable Lifestyle and Rental Market:
East Lansing is home to approximately 50,000 residents and one of the largest universities in the country, Michigan State University. 58% of housing units are renter occupied and 72% of workers in East Lansing are in white-collar positions. Major employers within the market include advanced manufacturing corporations and prestigious health care institutions.
62.8% of workers within the submarket are in white collar positions.
Ease of Access to Major Thoroughfares:
Minutes away from major freeways including I-96, US-127, I-69, and I-496.
Unique Resident Base:
Highland, Walden Woods, and MadGrey are a mix of conventional/student housing.
Rental Markets:
The East Lansing submarket contains over 15,000 market-rate apartments, 1Q24 occupancy exceeds 95%, and the effective rent is up 5.1% YOY.
Sophisticated Workforce:
Free and Clear of Debt:
Property is offered free and clear for a new owner to take advantage of a new financing opportunity.
Lansing 3, located in the state capitol is Mid Michigan’s most sought-after apartment market of Lansing. Anchored by one of the ED’s, Med’s, and Fed’s, Lansing boasts outstanding apartment market metrics and a diverse economy with attractive demographics, encompassing steady income and population growth.
Conveniently located minutes away from major freeways including I-96, US-127, I-69, and I-496, Lansing 3 provides its residents with easy access to all that the Lansing MSA has to offer. Lansing is not only home to Michigan’s state capitol, but also a Top 50 public university in Michigan State University, home to approximately 50,000 students.
Market Information
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260 E. Brown Street, Ste 150
Birmingham, MI 48009
Phone: 248.646.7701
Berkadia.com
Investment Sales
Detroit Office
CONTACT Info
Mortgage Bankers
Aaron Moll
Senior Director
248.208.0529
aaron.moll@berkadia.com
Rick Brace
Senior Director
248.341.3319
rick.brace@berkadia.com
Conor David
Director
425.213.5103
conor.david@berkadia.com
Mike MCclafferty
Associate Director
215.328.1298
mike.mcclafferty@berkadia.com
Charley Henneghan
Director
248.341.3303
charley.henneghan@berkadia.com
Kevin Dillon
Senior Managing Director
248.341.3309
kevin.dillon@berkadia.com
Corey Krug
Senior Director
248.341.3338
corey.krug@berkadia.com
Jason Krug
Senior Managing Director
248.341.3344
jason.krug@berkadia.com
Luke Safranek
Senior Director 248.208.3466 luke.safranek@berkadia.com
HIGHLAND / 58 UNITS
MADGREY / 48 UNITS
30 UNITS | BUILT 1975
58 UNITS | BUILT 1951
48 UNITS | BUILT 1985
2345 N Harrison Road / East Lansing, MI 48823
144 Highland Avenue / East Lansing, MI 48823
3013 Belmar Circle / Lansing, MI 48912
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Opportunity Highlights
PROPERTY FEATURES
Community Amenities
Brand New Community Nestled in the Scenic Ridgefield Neighborhood
Resort-Style Swimming Pool with Brick-Paved Sundeck
State-of-the-Art Fitness Center
Playground
On-Site Maintenance
Fully Maintained Landscaping with Manicured Grass, Young Trees, Trimmed Shrubs, Plants, and Lakes
Online Resident Portal
Close to Golf Courses, Parks, Trails, Lakes, Schools, Stores, Restaurants, and Entertainment Options
Convenient Access to State Route 544, U.S. Highway 501, Coast RTA Bus Line, Downtown Conway, Coastal Carolina University, Myrtle Beach International Airport, Myrtle Beach, and Coastal Beaches
Unit Amenities
Spacious, Open Floor Plans with Private Driveway, and Direct Access Two-Car Garage
Master Suites with Oversized Walk-In Closets and Double Sink Vanities
Beautifully Appointed with High-End Finishes, Stainless Steel Appliances, Smart Home Technology Package, Luxury Vinyl Plank Flooring, Plush Bedroom Carpeting, Granite Countertops, Lighted Ceiling Fans, and LED Lighting
Kitchen with Gas Stove, Dishwasher, Built-In Microwave, Undermount Double Basin Sink, Kitchen Island / Breakfast Bar, Dining Area, and Plenty of Cabinet and Counter Space
Full Size Bathroom with Tub and Shower Combination / Walk-In Shower with Sliding Glass Doors
High Ceilings, Large Windows, and Private Entry with Glass Panel Door
Private Patio with Sliding Glass Doors
Laundry Room with Washer and Dryer
Select Units Feature Pond View
Air Conditioning / Heating
Air Conditioning
Refrigerator
Stove and Oven
Ceiling Fans
Balcony*
Laundry Facilities
HIGHLAND APARTMENTS
WALDEN WOODS
Amenities
1975
Built
30
Units
2345 N Harrison Road East Lansing, MI
Walden Woods
9
Buildings
*In Select Units
MADGREY
Community Amenities
Brand New Community Nestled in the Scenic Ridgefield Neighborhood
Resort-Style Swimming Pool with Brick-Paved Sundeck
State-of-the-Art Fitness Center
Playground
On-Site Maintenance
Fully Maintained Landscaping with Manicured Grass, Young Trees, Trimmed Shrubs, Plants, and Lakes
Online Resident Portal
Close to Golf Courses, Parks, Trails, Lakes, Schools, Stores, Restaurants, and Entertainment Options
Convenient Access to State Route 544, U.S. Highway 501, Coast RTA Bus Line, Downtown Conway, Coastal Carolina University, Myrtle Beach International Airport, Myrtle Beach, and Coastal Beaches
Unit Amenities
Spacious, Open Floor Plans with Private Driveway, and Direct Access Two-Car Garage
Master Suites with Oversized Walk-In Closets and Double Sink Vanities
Beautifully Appointed with High-End Finishes, Stainless Steel Appliances, Smart Home Technology Package, Luxury Vinyl Plank Flooring, Plush Bedroom Carpeting, Granite Countertops, Lighted Ceiling Fans, and LED Lighting
Kitchen with Gas Stove, Dishwasher, Built-In Microwave, Undermount Double Basin Sink, Kitchen Island / Breakfast Bar, Dining Area, and Plenty of Cabinet and Counter Space
Full Size Bathroom with Tub and Shower Combination / Walk-In Shower with Sliding Glass Doors
High Ceilings, Large Windows, and Private Entry with Glass Panel Door
Private Patio with Sliding Glass Doors
Laundry Room with Washer and Dryer
Select Units Feature Pond View
Air Conditioning / Heating
Air Conditioning
Refrigerator
Stove and Oven
Balcony*
Laundry Facilities
*In Select Units
Amenities
1951
Built
1
Building
58
Units
144 Highland Ave East Lansing, MI
Highland Apartments
Community Amenities
Brand New Community Nestled in the Scenic Ridgefield Neighborhood
Resort-Style Swimming Pool with Brick-Paved Sundeck
State-of-the-Art Fitness Center
Playground
On-Site Maintenance
Fully Maintained Landscaping with Manicured Grass, Young Trees, Trimmed Shrubs, Plants, and Lakes
Online Resident Portal
Close to Golf Courses, Parks, Trails, Lakes, Schools, Stores, Restaurants, and Entertainment Options
Convenient Access to State Route 544, U.S. Highway 501, Coast RTA Bus Line, Downtown Conway, Coastal Carolina University, Myrtle Beach International Airport, Myrtle Beach, and Coastal Beaches
Unit Amenities
Spacious, Open Floor Plans with Private Driveway, and Direct Access Two-Car Garage
Master Suites with Oversized Walk-In Closets and Double Sink Vanities
Beautifully Appointed with High-End Finishes, Stainless Steel Appliances, Smart Home Technology Package, Luxury Vinyl Plank Flooring, Plush Bedroom Carpeting, Granite Countertops, Lighted Ceiling Fans, and LED Lighting
Kitchen with Gas Stove, Dishwasher, Built-In Microwave, Undermount Double Basin Sink, Kitchen Island / Breakfast Bar, Dining Area, and Plenty of Cabinet and Counter Space
Full Size Bathroom with Tub and Shower Combination / Walk-In Shower with Sliding Glass Doors
High Ceilings, Large Windows, and Private Entry with Glass Panel Door
Private Patio with Sliding Glass Doors
Laundry Room with Washer and Dryer
Select Units Feature Pond View
Air Conditioning / Heating
Air Conditioning
Fully Equipped Kitchen
Upgraded Kitchen*
Wood-Style Flooring
Extra Storage
Laundry Facilities
*In Select Units
Amenities
1985
Built
5
Buildings
48
Units
3013 Belmar Circle Lansing, MI
MadGrey
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