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1430 S State St - 1430 S State Street, St. Joseph, MI 49085 7 Unit Apartment Building Offered at $786,427 CAD Saint Joseph, MI 49085
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 | $786,427 CAD | Property Type | Multifamily |
| Price Per Unit | $112,347 CAD | Building Size | 4,610 SF |
| Sale Type | Investment | No. Stories | 2 |
| No. Units | 7 | Year Built | 2003 |
| Zoning | Business Improved | ||
| Price | $786,427 CAD |
| Price Per Unit | $112,347 CAD |
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Building Size | 4,610 SF |
| No. Stories | 2 |
| Year Built | 2003 |
| Zoning | Business Improved |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
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1430 S State St - 1430 S State Street, St. Joseph, MI 49085
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