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*

$ 5,609

421 N State Street, Alma, MI 48801 - Image 1
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421 N State Street, Alma, MI 48801 - Image 3
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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

Commercial/Industrial

Lot Size

0.23

Year Built

1900

Town/City

Alma

County/Region

Gratiot

MLS | Web ID

80050334

Features
General
Heating Forced Air
Cooling Central A/C
Possession Subject To Tenant Rights
Roof Asphalt
Water Public Water
Status Active Active
Year Built 1900
Subdivision Alma MI
County Gratiot
Class COM/IND/BUS OPP
Type Commercial/Industrial
Business Name 101 W. Downie LLc
Ownership Private
Municipality Alma
Section 34
Zoning Multi-Family Commercial
Sale/Rent For Sale
Status Detail 0
Commercial Features Sprinkler System
Area Alma (29017)
Primary City Alma
Location Corner Lot
Directions S. on Woodworth from Superior.
City Alma
Financial Terms Cash Conventional
Legal Description See Associated Docs for Full Legal Description.
DOM 454
Postal Code 48801
Price Per Sq Ft Total AG 87.11
Public Remarks 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
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Exterior
Exterior Frame
Lot Size Area 0.23
Lot Dimensions See Associated Docs.
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Interior
Fuel Type Natural Gas
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* Excluded Features
List By
Bob Fall

Listing Agent

Century 21 Lee-Mac Realty

Broker

Bob@MyWiseCouncil.com

Email

Affordability Calculator

$5,609
Per Month
100%
0%
0%
Monthly Principal & Interest
$5,609
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% 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
760529 Elementary School
760235 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