This triplex brings a great opportunity for investors that are looking for a turnkey property with proven income and different potential routes to move forward. With vacancies and nearly rent ready units on the main and upper levels, the buyer of 224 Crest has flexibility. For buyers that self-manage, a rental market that rewards properties that provide a premium rental experience leaves plenty of room to maximize returns. For buyers that want to stay hands off, the property is already managed by DS Huber Group, in Lansing. The management company is in the process of doing a few minor updates to each vacant unit before listing the main floor unit for rent at $875/month and the upper floor unit for rent at $775/month. The lower unit has a long term tenant that is currently rented on a month to month basis at $625/month. All utilities, including lawn and snow removal are paid by the landlord (roughly $375/month), which gives the buyer a potential for $1,900/month with the current rental track.

This property also has plenty of tangible features beyond the rental numbers that will ensure sustainable success moving forward. The property is complete with a 2 car garage that offers multiple tenants on-site covered parking. An enormous back yard provides another perk to any tenant that enjoys the outdoors and practically begs the creative buyer to add their own personal outdoor touch to give this space even more utility/add to the outdoor living experience. The list of convenient living features for potential tenants also includes a bus stop less than a block away and access to on site laundry in the basement common area. This property checks off the boxes for landlords and tenants alike.

All the mechanicals have approval stickers to show proper permits, and the property is certified as a rental property by the City of Lansing until 5/1/2023. The roof was replaced in 2019. No utilities are currently split. Schedule your showing to see this cashflow king before it is too late.

CASH SALE ONLY: Property is grandfathered in as legal nonconforming use as a triplex in an area that is now zoned single family residential. However, since the property cannot be rebuilt as a triplex if it burns down, financing has fallen through twice due to this zoning change.