421 N State Street $1,000,000

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    421 N State Street Alma, MI 48801

    • 0.23 Acres
    • Commercial
    • MLS# 1926845
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    Views: 11 Days On Site: 77

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    Property Details

    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.

    • General Features
      • Licenses None
      • Included In Lease None
      • Business Incl No
      • Business Name 101 W. Downie, LLc
      • Type of Ownership Private Owner
      • Approx Year Built 1900
      • Year Remodeled 2014
      • Type Mixed Use
      • Town T 12N
      • Township City of Alma
      • Present Use None
    • Building Features
      • Extras Sprinkler System
      • Foundation Full
      • Heating Cooling Source Natural Gas
      • Roof Asphalt
      • Heating Cooling Type Forced Air, Central Air
      • Apx Total Fin SQFT 10,320
    • Property Features
      • Water Municipal Water
      • Vacant Land No
      • Univs Design/Barrier Free None
      • Road Public Maintained
      • Sewer Municipal
      • % of Remodel 100
      • Parking Common, Street Parking
      • Exterior Features Brick
      • Construction Frame
      • Lot Dimensions See Associated Docs.
      • Location Corner Lot

    Neighborhood

    48801 (Alma) Demographics

    35 Median Age
    183 Population Density (per sq. mile)
    34% College Educated
    $43,400 Estimated Median Income
    3,518 Estimated Total Home Owners
    1,813 Estimated Total Renters
    66% / 34% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    13,172 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $123,000 Median Sales Price
    10 Homes Sold
    16 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $1,000,000
        9/8/2024 4:06:06 AM Status Changed Source: Multiple Listing Service New Value: Active
        9/5/2024 3:07:00 PM New in Database Source: Multiple Listing Service New Value: $1,000,000

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        The data relating to real estate for sale on this web site comes in part from the Internet Data exchange ("IDX") program of Northern Great Lakes REALTORS MLS. All information is provided exclusively for the 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.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.