5400 S Waverly Road, Lansing, MI 48911

Property Description

Investment opportunity in Lansing! This triplex offers three units with combined monthly rental income of $3,010. The units at 5400 Waverly and 3911 Phoenix each feature 2 bedrooms, 1 bathroom, and approximately 600 square feet, with each renting for $1,200 per month. The unit at 3913 Phoenix offers 1 bedroom, 1 bathroom, and approximately 600 square feet, renting for $610 per month to a longstanding tenant retained from the prior ownership on a month-to-month lease. The roof at 5400 Waverly has been inspected with no issues reported. The parcel also includes an open lot to the west, and the rental license is due for renewal in 2027. The same owner also owns 5316/5318 Waverly, Lansing, MI 48911, which is currently for sale, offering an opportunity to purchase an additional income property. Across all units, driveways have been filled and smoothed with crushed concrete, handrails have been installed at all front entrances, and gutters are cleaned annually. Tenants are responsible for all utilities and trash service, and the water heaters are all about 10 years old.