9
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$1,300,000
Est. payment /mo
4,808 SqFt
Active
408 Ann ST East Lansing, MI 48823
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Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 4,808 sqft
Price per Sqft $270
Subdivision Assrs Of Chase
MLS Listing ID 20261039024
Year Built 1940
Lot Size 6,098 Sqft
Acres 0.14
Property Sub-Type RealEstateOnly
Property Description
Rarely available opportunity to acquire a stabilized, income-producing student housing asset in one of Michigan's most resilient rental markets. This 11-unit apartment building — purpose-positioned for graduate student tenants — sits just three blocks from the Michigan State University campus, delivering the kind of location-driven demand that keeps vacancy risk virtually nonexistent.
The Numbers Tell the Story: Eight consecutive school years of 100% occupancy. That's not a marketing claim — it's a track record that reflects the unrelenting demand for quality, proximate housing among MSU's graduate population. Currently operating at 11 beds with a stable, proven rent roll, the property holds a state-issued license for up to 22 beds, offering a clear, documented path to nearly double its income-generating capacity without a change-of-use hurdle.
4,808 square feet of rentable space on 0.14 acres, efficiently configured to serve the discerning graduate student renter who prioritizes walkability, quiet, and proximity to academic resources over amenity-heavy complexes further from campus. The building's compact footprint keeps operating overhead lean, while the location commands premium rents driven by scarcity rather than seasonality.
Beyond the bed-expansion opportunity, on-site parking represents an additional, largely untapped revenue stream in a neighborhood where on-campus parking access commands real dollars from students, faculty, and staff alike.
The Numbers Tell the Story: Eight consecutive school years of 100% occupancy. That's not a marketing claim — it's a track record that reflects the unrelenting demand for quality, proximate housing among MSU's graduate population. Currently operating at 11 beds with a stable, proven rent roll, the property holds a state-issued license for up to 22 beds, offering a clear, documented path to nearly double its income-generating capacity without a change-of-use hurdle.
4,808 square feet of rentable space on 0.14 acres, efficiently configured to serve the discerning graduate student renter who prioritizes walkability, quiet, and proximity to academic resources over amenity-heavy complexes further from campus. The building's compact footprint keeps operating overhead lean, while the location commands premium rents driven by scarcity rather than seasonality.
Beyond the bed-expansion opportunity, on-site parking represents an additional, largely untapped revenue stream in a neighborhood where on-campus parking access commands real dollars from students, faculty, and staff alike.
Location
State MI
County Ingham
Area Area11013Eastlansing
Interior
Fireplace No
Exterior
Parking Features AlleyAccess, ParkingLot, OnSite
View Y/N No
Roof Type Composition
Garage false
Building
Foundation Basement, Block
Sewer Public Sewer
Water Public
New Construction No
Schools
School District East Lansing
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by Brian Kirksey of Keller Williams Paint Creek
NEARBY SCHOOL & BUSINESS
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