421 N State Street Alma, MI $ 899,000
421 N State Street
$ 899,000
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421 N State Street

Alma, MI, 48801
$ 899,000
Bedrooms-- Baths-- Sq 10,320

Monthly Estimate*

$ 5,535

421 N State Street, Alma, MI 48801 - Image 1
421 N State Street, Alma, MI 48801 - Image 2
421 N State Street, Alma, MI 48801 - Image 3
421 N State Street, Alma, MI 48801 - Image 4
421 N State Street, Alma, MI 48801 - Image 5
421 N State Street, Alma, MI 48801 - Image 6

Commercial Property for sale in Alma, MI

for $899,000. This 10,320 square foot building was built in 1900 on a lot size of 0.23.

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.

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Commercial Active

Price

$ 899,000

Property Type

Commercial

Taxes

$ 0

Style

Lot Size

0.23

Year Built

1900

Town/City

Alma

County/Region

Gratiot

MLS | Web ID

1926845

Features
General
Sewer Public Sewer
Heating Forced Air Natural Gas
Cooling Central Air
Possession Subject To Tenant Rights
Roof Asphalt
Security Features Fire Sprinkler System
Construction Materials Frame Brick
Year Built 1900
Township City of Alma
Property Subtype Mixed Use
Business Type None
Accessibility None
Assoc Fee Paid Per Annually
Business Name 101 W. Downie LLc
County Gratiot
New Construction N
Property Type Commercial Sale
Attached Garage N
Subdivision Name Alma
Garage Y/N N
Rent Includes None
Status Active
Directions S. on Woodworth from Superior.
City Alma
Zoning Description Multi-Family Commercial
Lot Size Units Acres
Lot Size Square Feet 10018.8
Carport Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Lease Considered Y/N N
Living Area Units Square Feet
Standard Status Active
Ownership Type Private Owner
Lease Amount Frequency Annually
Legal Description See Associated Docs for Full Legal Description.
Year Built Effective 2014
Freehold IDX
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Interior
Basement Full Michigan Basement
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Below Grade Finished Area Unit Type Square Feet
Above Grade Finished Area Unit Type Square Feet
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Exterior
Parking Features Assigned Common On Street
Lot Features Corner Lot
Water Source Public
Lot Size Area 0.23
Spa N
Lot Size Acres 0.23
Other Parking Assigned Common Street Parking
Waterfront Y/N N
Road Responsibility Public Maintained Road
Horse Y/N N
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* Excluded Features
List By
Century 21 Lee-Mac Realty

Broker

Bob@MyWiseCouncil.com

Email

Affordability Calculator

$5,535
Per Month
100%
0%
0%
Monthly Principal & Interest
$5,535
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2034270 Elementary School
2034440 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
2/28/2025$899,000 -10.10% Price Down
9/5/2024$1,000,000 Listed Price

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421 N State Street, Alma, MI, 48801 is a Commercial Property for sale at $899,000 with 10,320 sqft and a lot size of 0.23. 421 N State Street was built in 1900. The property's zip code is 48801 which is in Alma, MI