$390,000
$400,000
2.5%For more information regarding the value of a property, please contact us for a free consultation.
532 Spartan AVE East Lansing, MI 48823
5 Beds
2 Baths
1,140 SqFt
Key Details
Sold Price $390,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 1,140 sqft
Price per Sqft $342
Subdivision Avondale
MLS Listing ID 283509
Sold Date 09/20/24
Bedrooms 5
Full Baths 2
Year Built 1949
Annual Tax Amount $7,545
Tax Year 2023
Lot Size 5,401 Sqft
Acres 0.12
Lot Dimensions 40x135
Property Sub-Type Single Family Residence
Source Greater Lansing Association of REALTORS®
Property Description
Seize a rare investment opportunity in East Lansing with this meticulously maintained Class 4 home, ideally situated in the heart of MSU. This property is a proven income generator, yielding $38,000 annually with a monthly rent of $3,200. Tenants are responsible for all utilities except trash, making this a low-maintenance investment.
Licensed for up to 5 unrelated tenants or a family, this home also boasts city-approved parking for 5 vehicles, enhancing its appeal to potential renters. Recent updates include a brand-new flat roof installed in August 2010, and a newly updated kitchen featuring modern appliances, including a washer/dryer and two refrigerators. The main floor is adorned with elegant hardwood and ceramic tile flooring. Additional improvements include new electrical, plumbing, and thermal windows installed in 2007, with the furnace being replaced in 2003. Each bedroom is wired for cable, ensuring convenience and connectivity for all occupants.
This property represents a fabulous investment opportunity in a prime location. Don't miss out on this chance to own a piece of East Lansing's vibrant rental market! Property rented through August 2025.
Location
State MI
County Ingham
Community Avondale
Direction GRAND RIVER TO SPARTAN NORTH TO HOUSE
Rooms
Basement Crawl Space
Dining Room First
Kitchen true
Interior
Interior Features Eat-in Kitchen, Entrance Foyer, Pantry, Primary Downstairs, Storage, Walk-In Closet(s)
Heating Forced Air, Natural Gas
Cooling None
Flooring Hardwood, Tile
Appliance Disposal, Water Heater, Washer, Refrigerator, Range, Oven, Dryer
Laundry Main Level
Exterior
Exterior Feature Rain Gutters
Parking Features Driveway
Pool None
View Y/N Yes
View Neighborhood
Roof Type Shingle
Present Use Primary,Investment
Porch Porch
Building
Lot Description Back Yard, Few Trees, Front Yard
Lot Size Range 0.12
Sewer Public Sewer
Schools
High Schools East Lansing
School District East Lansing
Others
Tax ID 33-20-02-18-219-016
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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