For Sale
421 N State Street, Alma, MI 48801
$899,000
MLS # 1926845 (Northern Great Lakes REALTORS® MLS)
Built 19000.23 acres
1 / 6
Listing 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. Don’t miss out on this turnkey investment in a thriving rental market.
Source: SparkMLS
About this home
Listed at $899,000.
Electric service is provided by Consumers Energy Company.
Listing Property Details
Property TypeCommercial Sale
Bathrooms0
Lot Size0.23 acres
Year Built1900
Location
CityAlma
Zip Code48801
CountyGratiot
Construction & Systems
HeatingForced Air
SewerPublic
Sale & Financing
Listed9/4/2024
Original Price$1,000,000
Source: SparkMLS
Tax Information
Source: SparkMLS
Legal Description
See Associated Docs for Full Legal Description.
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Eligible — 0% Down Payment Available
Verify eligibility at USDAListed by Bob Fall
Unknown Office
Frequently Asked Questions about 421 N State Street, Alma, MI 48801
Is 421 N State Street, Alma, MI 48801 eligible for USDA financing?
Per USDA boundary maps, this property is located in a USDA-eligible area, which means qualified buyers may be able to finance with 0% down through the USDA Rural Development program. Confirm current eligibility directly with USDA.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 421 N State Street, Alma, MI 48801 is in flood zone X (minimal risk). Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: Consumers Energy Company. Gas: Consumers Energy Company. Sewer: Public. Confirm service details directly with providers.
How safe is this area?
For crime and public safety data, we recommend inquiring directly with the local police department or county sheriff's office.
Map
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Monthly payment$5,831
Principal & interest$5,831
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
Consumers Energy Company
Investor-Owned
Consumers Energy Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
421 N State Street, Alma, MI 48801
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Municipality
Alma
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