421 N State Street, Alma, MI 48801 - MLS#79080050334

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Larry Else

larry@dtrdetroit.com +1(313) 315-3215

$ 1,000,000

Est. payment -/mo

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421 N State Street Alma, MI 48801

10,320 SqFt

UPDATED:

09/08/2024 10:54 AM

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 10,320 sqft

Price per Sqft $96

Subdivision Alma

MLS Listing ID 79080050334

Originating Board Central Michigan Association of REALTORS�

Year Built 1900

Lot Size 10,018 Sqft

Acres 0.23

Lot Dimensions See Associated Docs.

Property Description

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. Donâ�?��?�t miss out on this turnkey investment in a thriving rental market.

Location

State MI

County Gratiot

Area Alma

Zoning Commercial,Multi-Family

Interior

Heating Forced Air, Central Air

Heat Source Natural Gas

Exterior

Waterfront no

Roof Type Asphalt

Building

Foundation Basement

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Structure Type Frame

Schools

School District Alma

Others

Tax ID 5134481200

Ownership Private Owned

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Unknown/Data Share Listings

Listed by Bob Fall of CENTURY 21 LEE-MAC REALTY

Larry Else

Broker | License ID: 386964

+1(313) 315-3215

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