Tamara Apartments | 17 Units | Lansing, MI

Description:

For more information visit this link: https://rimarketplace.com/auction/3360/multifamily/lansing/mi?utm_source=brevitas&utm_medium=email_paid&utm_campaign=sept24_2026&utm_content=multifamily_3360

Brokered by Landmark Commercial Real Estate Services and powered by RealINSIGHT Marketplace, 335 E. St. Joseph Street in Lansing, Michigan is a 17-unit, 10,900-square-foot value-add apartment community positioned minutes from Downtown Lansing, the Michigan Capitol, and Michigan State University. Ten of seventeen units are currently occupied, generating an estimated $43,831 in net operating income against $115,200 in total gross revenue, while the remaining seven vacant units offer new ownership a direct path to renovate, re-lease at market rents, and materially grow cash flow. The property's taxable market value is scheduled to drop 20% in 2027, further reducing the tax burden and supporting NOI growth. Lansing's diversified base of state government, higher education, and healthcare employment, alongside General Motors' nearby Grand River Assembly plant, underpins steady workforce housing demand and limited affordable supply in the submarket. Offered through a transparent auction process, this acquisition gives investors a scalable, well-located value-add multifamily opportunity with clear upside in both income and long-term asset value.