1430 S State St - Multi-Family FOR SALE
Saint Joseph, MI 49085 |
$575,000 USD
269-930-3535
1430 S State St
Saint Joseph, MI 49085
HIGHLIGHTS
- Fully occupied 7-unit generating approximately $6,750/month ($81,000 annually) with stable tenant base.
- Monthly rents outperform the 1% benchmark for the price point, which is uncommon in St. Joseph.
- Positioned just off Lakeshore, offering tenant demand driven by proximity to downtown amenities and Lake Michigan.
- No lease-up required. Day-one cash flow with all units currently occupied.
- Several units appear below market, providing a clear path to increase NOI without major repositioning.
- Tenants pay electric, reducing owner expenses, with a large paved lot adding functional tenant appeal.
OVERVIEW
This investors dream, is an updated 7 unit building and is currently fully occupied. This rare property is located within walking distance to the thriving downtown and the stunning beaches of St Joseph, Michigan. Most of the units have been updated and two units are furnished. There is a large shared laundry on site, and several common areas for residence to enjoy. In addition, there is a large paved lot for off street parking.
FOR SALE DETAILS
PRICE
$575,000 USD
# OF UNITS
7
PRICE/UNIT
$82,143
CAP RATE
Request Cap Rate
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
1430 S State Street, St. Joseph, MI 49085
PROPERTY TYPE
Multi-Family
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
2003
PARKING SPACES
-
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
Business Improved
APN/PARCEL ID
117600260060021
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269-930-3535
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269-930-3535
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