About 421 N State Street
Turnkey Investment Opportunity: Fully Leased 8-Unit Apartment Building in Prime Location. Discover this exceptional investment opportunity with a fully remodeled 8-unit apartment building, generating over $67,000 in annual revenue. Consisting of six spacious 2-bedroom units and two cozy 1-bedroom units, this property has consistently performed since its complete remodel in 2015. With modern finishes, updated systems, and thoughtful design throughout, it's no wonder the building has never experienced a vacancy since reopening. Situated in a desirable, well-connected location, the property enjoys a steady stream of rental demand and boasts a waiting list of eager tenants. Each unit features updated kitchens, bathrooms, and living spaces designed for comfortable, low-maintenance living. Tenants also appreciate the convenience of off-street parking, on-site laundry, and close proximity to local amenities, schools, and shopping centers. This fully leased property offers hassle-free ownership with a proven track record of reliable income and tenant satisfaction. Whether you're a seasoned investor or looking to expand your portfolio, this is a rare chance to acquire a stable, income-generating asset with excellent cash flow potential. Don’t miss out on this turnkey investment in a thriving rental market.
Features of 421 N State Street
| MLS® # | 1926845 | 
|---|---|
| Price | $899,000 | 
| Square Footage | 10,320 | 
| Acres | 0.23 | 
| Year Built | 1900 | 
| Type | Commercial | 
| Sub-Type | Mixed Use | 
| Status | Active | 
Community Information
| Address | 421 N State Street | 
|---|---|
| Subdivision | Alma | 
| City | Alma | 
| County | Gratiot | 
| Province | MI | 
| Postal Code | 48801 | 
Amenities
| Utilities | Municipal Water | 
|---|---|
| Features | Sprinkler System | 
| Parking | Assigned, Common, Street Parking | 
| Is Waterfront | No | 
| Has Pool | Yes | 
Interior
| Heating | Natural Gas,Forced Air,Central Air | 
|---|---|
| Fireplace | No | 
| Has Basement | Yes | 
| Basement | Full, Michigan Basement | 
Exterior
| Exterior Features | Brick | 
|---|---|
| Lot Description | See Associated Docs. | 
| Roof | Asphalt | 
| Construction | Frame | 
Additional Information
| Date Listed | September 5th, 2024 | 
|---|---|
| Days on Market | 372 | 
| Zoning | Multi-Family, Commercial | 
| Short Sale | No | 
| RE / Bank Owned | No | 
Listing Details
| Office | 1660 | 
|---|

