304 Main StMount Pleasant, MI 48858

For Sale
$795,000

9-Unit Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional multifamily investment opportunity consists of a nine-unit apartment building situated in the heart of downtown Mount Pleasant, Michigan. The property comprises two buildings, each four stories high, totaling 9,000 square feet and currently boasting 100% occupancy. Located at 304 S Main St and 109 W Illinois St, the property benefits from prime corner lots, offering significant redevelopment potential given its strategic location. The buildings are conveniently situated within walking distance of Central Michigan University, ensuring consistent demand and strong rental income. The property features a Class C designation and is zoned CD-4 General Urban. The current Net Operating Income (NOI) stands at $54,872.82, translating to an attractive price per unit of $88,333.33. The asking price for this fully occupied, high-demand property is $795,000. The property's strong historical occupancy and proximity to Central Michigan University make it an ideal investment for those seeking a stable and potentially appreciating asset in a vibrant college town. The APN numbers are 17-000-00493-00 and 17-000-00494-00. This is a rare opportunity to acquire a well-performing multifamily property with significant upside potential in a desirable location.

Highlights

  • High-profile corner lot at Main St and S Washington in Downtown Mt. Pleasant.
  • 100% occupancy with a proven track record.
  • Excellent redevelopment potential due to prime downtown location.
  • Conveniently located within walking distance of Central Michigan University.

Property Details for 304 Main St

Property type
Multifamily properties, Apartment buildings
Square Feet
9 SF
Class
C
Buildings
2
Stories
4
Units
9

Location Insight

City
Mount Pleasant
County
Isabella
State
Michigan
Latitude
43.6023888
Longitude
-84.7770231
304 Main St, Mount Pleasant, Michigan

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304 Main St
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