509 N Walnut Street
Lansing, MI 48933
Map
- – beds
- – baths
- – sqft
- 5,053 sqft lot
- 1903 build
- – on site
Discover a fantastic investment opportunity in Lansing, Michigan, just minutes from the state capital and downtown entertainment districts. This fully rented multi-family property offers immediate cash flow with stable tenants in place, making it an ideal addition to any real estate portfolio. The property's prime location provides convenient access to local amenities, government offices, and vibrant downtown attractions, ensuring continued demand from tenants. With a little TLC and strategic updates, there's significant potential to increase property value and rental income, making this a smart investment for both seasoned investors and newcomers alike. This multi-family asset presents a compelling chance to add value through cosmetic improvements, upgrades, or operational efficiencies. The existing layout offers flexible options for renovations to modernize units and boost rental rates. The strong occupancy rate combined with its proximity to key Lansing landmarks positions this property as a stable, income-generating investment with promising upside. Whether you're looking to expand your rental portfolio or capitalize on Lansing's growing market, this property offers a rare opportunity to maximize returns with minimal initial effort.
Last checked:
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Last updated Jul 7, 2025
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MLS# 65025032568 —
The Building
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Year Built:1903
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Construction Materials:VinylSiding
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Basement:Full
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Basement:true
Interior
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Laundry Features:None
Location
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Directions:I-496 E. take Exit 6 towards Walnut St. merge onto W. Malcolm X St., Left on S. Walnut St., home is on the right.
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Cross Street:W. Genesee St.
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Latitude:42.738973
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Longitude:-84.557218
The Property
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Parcel Number:33010116108151
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Property Type:ResidentialIncome
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Property Subtype:MultiFamily
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Lot Size Acres:0.12
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Lot Size Area:5053.0
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Lot Size Dimensions:38x66
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Lot Size Units:SquareFeet
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Zoning Description:Residential
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Road Frontage Feet:38
Listing Agent
- Contact info:
- Agent phone:
- (810) 300-5073
- Office phone:
- (616) 240-6590
Taxes
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Tax Legal Description:N 38 FT OF E 4 R LOT 5 BLOCK 72 ORIG PLAT
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Tax Assessed Value:60584
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Tax Annual Amount:5027.0
Heating & Cooling
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Heating:ForcedAir, NaturalGas
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Heating:true
Utilities
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Utilities:ElectricityConnected, NaturalGasConnected
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Sewer:PublicSewer
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Water Source:Public
Schools
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High School District:Lansing
The Community
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Waterfront:false
Parking
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Parking Total:4.0
IDX provided courtesy of Realcomp II Ltd., via Estately and Greater Regional Alliance of REALTORS, © 2025 Realcomp II Ltd. Shareholders
Estately Inc. is a Michigan licensed brokerage #6505374810, managed by Michigan licensed REALTOR® broker Darren Yearsley #6505374810.
IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
IDX provided courtesy of Realcomp II Ltd. via Estately Inc. and REALCOMP. ©2025 Realcomp II Ltd. Shareholders.
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
7/3/25
Jul 3, 2025
|
Listed / Active | REALCOMP | $109,900 |
