5316/5318 S Waverly Road

Investment opportunity in Lansing! Located at 5316 and 5318 S Waverly, this property features two units, each with 3 bedrooms, 2 bathrooms, and about 900 square feet, for a combined monthly rental income of $2,450. The unit at 5316 rents for $1,550 per month, with improvements including a new roof ($15,000), a new kitchen countertop, and newly installed gutters. The unit at 5318 rents for $900 per month to a longstanding tenant on a month-to-month lease and features new siding ($15,000), a new furnace ($6,000), and newly installed gutters. The same owner also owns 5400 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 approximately 10 years old. The rental license for this duplex is due for renewal in 2027.