For Auction
Tamara Apartments | 17 Units | Lansing, MI
Lansing, MI 48933Represented by
Landmark Commercial Real Estate
Asset Snapshot
Offering Summary
Investment Highlights
- Capital-Adjacent Infill Apartment Site: Located 1.2 miles from the Michigan Capitol and Downtown Lansing's central business district.
- 41.7% Vacancy Fuels Immediate Lease-Up: Seven of seventeen units sit vacant, offering a clear path to stabilize and grow income.
- 20% Taxable Value Cut Arrives in 2027: Scheduled assessment reduction lowers real estate tax expense and directly lifts NOI.
- Diverse, Recession-Resistant Employer Base: State government, MSU, healthcare systems, and GM's nearby plant anchor steady rental demand.
- 17-Unit Garden Community Near Colleges: Walkable to Lansing Community College, 1.5 miles from MSU's 41,000-plus student body.
Offering Summary
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.
Location Prose
Tamara Apartments sits at 335 E. St. Joseph Street, a 0.6-mile walk to Lansing Community College and 1.2 miles from Downtown Lansing's business core and the Michigan Capitol building. Cooley Law School's Lansing campus is 1.2 miles away, Michigan State University's 41,000-plus students sit 1.5 miles east, and I-496 access is 2.5 miles from the site.
Location Stats
0.7 mi : Distance to GM Grand River Assembly
1.5 mi : Distance to Michigan State University
97,179 : Total employees within a 5-mile radius
Due Diligence
Transaction Managers
Platform Fee
Buyer pays platform fee at closing.
5% or $25,000 minimum
How it Works
Learn about bidding, reserve prices, and closing.
Read the auction guideAuctioneer
Need Help?
Your transaction managers are your first point of contact for any auction or process questions. For additional support:
Investment Sales Brokers
Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
