Introducing Skyline Apartments
OakPointe Real Estate Advisors is pleased to present Skyline Apartments, a 12-unit multifamily asset located along Lansing’s growing Northwest Grand River corridor. Originally built in 1965 and fully renovated in 2023, Skyline offers investors a turnkey opportunity supported by Lansing’s strong employment base and rental demand.
Property Highlights
Address: 4221 N Grand River Ave, Lansing MI 48906
Units: 12 (11× 2-Bed / 1× 1-Bed)
Building Size: 7,760 SF | Land: 0.29 Acres
Occupancy: 95%
Offered at: $1,100,000 ($91,667/Unit | $141.75/SF)
Year Renovated: 2023
Zoning: Mixed Use
Style: Two-Story Garden-Level Layout
Parking: Surface lot with low-maintenance landscaping
Investment Summary
Current NOI: $75,966 | Pro Forma NOI: $103,131
Current Cap Rate: 6.9% | Pro Forma Cap Rate: 9.4%
Current Cash-on-Cash: 4.4% | Pro Forma: 14.3% (Pro-forma reflects non-Capex - operational improvements only)
Loan Terms: Local bank financing available with 25-year amortization
Turnkey Stability
95% occupancy producing over $13,000/month in rent with additional upside through rent growth and operational efficiencies.
Diverse Tenant Demand
Anchored by Lansing’s major employers — Michigan State University, Sparrow Health System, and General Motors.
Low Operating Complexity
Individually metered utilities and lean management structure make Skyline ideal for both regional operators and first-time multifamily investors.
Financial Upside
With updated interiors, modernized mechanicals, and refreshed common areas, Skyline provides immediate in-place income plus long-term appreciation potential. A projected 9%+ pro forma cap rate and 14% cash-on-cash return highlight its strong fundamentals.
Location Advantage
Positioned minutes from Downtown Lansing, MSU, and I-69/I-96, Skyline Apartments offers residents convenient access to employment centers, shopping, and recreation — all within a stable rental corridor.
Learn More
Click below to download the full Offering Memorandum and financials. View Full OM & Financials
Presented by:
Michael McClafferty
Managing Broker | OakPointe Real Estate Advisors
(248) 972-7040 | ✉️ [email protected]
Brokerage License No. 6505432912