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1430 S State St
Saint Joseph, MI 49085
1430 S State Street, St. Joseph, MI 49085 · Multifamily Property For Sale
·
7 Units
Investment Highlights
- Fully occupied 7-unit generating approximately $6,750/month ($81,000 annually) with stable tenant base.
- Positioned just off Lakeshore, offering tenant demand driven by proximity to downtown amenities and Lake Michigan.
- Several units appear below market, providing a clear path to increase NOI without major repositioning.
- Monthly rents outperform the 1% benchmark for the price point, which is uncommon in St. Joseph.
- No lease-up required. Day-one cash flow with all units currently occupied.
- Tenants pay electric, reducing owner expenses, with a large paved lot adding functional tenant appeal.
Executive Summary
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.
Property Facts
| Price Per Unit | $82,143 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.23 AC |
| No. Units | 7 | Building Size | 4,610 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2003 |
| Zoning | Business Improved | ||
| Price Per Unit | $82,143 |
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 4,610 SF |
| No. Stories | 2 |
| Year Built | 2003 |
| Zoning | Business Improved |
Property Taxes
| Parcel Number | 11-76-0026-0060-02-1 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $116,500 |
Property Taxes
Parcel Number
11-76-0026-0060-02-1
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$116,500
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