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2199 Lansing St
Detroit, MI 48209 Mexicantown

$2,690,000 USD

Apartments For Sale • 36,184 SF

Property Details

Property Type Apartments
Total Building Size 36,184 SF
Lot Size 0.42 AC
Building Class C
Year Built 1925
Cap Rate 11.38 %
Zoning CM

30 Transit Score

60 Walk Score

                
                    Highlights
                
                                 The offering includes an adjacent parcel with the potential to create 25+ parking spaces, enhancing functionality and long-term tenant appeal.
                            
                                 The property offers immediate in-place cash flow with significant upside through the renovation and lease-up of remaining vacant units. 
                            
                                Major capital improvements have already been completed, including roof, windows, structural, and mechanical upgrades, substantially reducing near-term

Property Flyers

The Lansing Apartments - Offering Memorandum (1)

Financial Summary (Proforma)

Net Operating Income: $306,135 USD (2026)

Cap Rate:

11.38 %

Major Tenants

Tenant	SF Occupied	Lease End Date
San Elo Llc

Amenities

24 Hour Access
Air Conditioning
Controlled Access
Laundry Facilities
Tenant Controlled HVAC
Heating
Smoke Free
Kitchen
Refrigerator
Oven
Range
Tub/Shower
Smoke Detector

Public Transportation

Commuter Rail	Drive	Walk	Distance
	12 min	-	4.8 mi
	18 min	-	7.6 mi
Airport	Drive	Walk	Distance
Windsor International	29 min	-	12.9 mi
Detroit Metro Wayne County	32 min	-	20.0 mi

Tyler Sarter 248-415-2600 Marcus & Millichap

2199 Lansing St Detroit, MI 48209 Mexicantown