1218 State St, Saint Joseph, MI 49085-1687
This stunning, historically significant 4-unit multifamily property in downtown St. Joseph, Michigan, offers unparalleled views of Lake Michigan. Situated on a 0.269-acre corner lot, this 4,983 square foot, two-story colonial-style building boasts a prime location on State Street, just 90 minutes from Chicago. Completely remodeled in 2020, each of the four units features updated kitchens and bathrooms, new flooring, modern appliances, and stylish furniture. The first-floor unit encompasses 1,972 square feet, while the two second-floor units are approximately 914 square feet each. A spacious 1,224 square foot third-floor unit provides expansive living space. All units are equipped with smart wifi deadbolt locks and designated parking. Currently operating as a successful short-term rental with consistent high occupancy and 5-star ratings through Airbnb and Vrbo, this property presents a unique investment opportunity. Its commercial zoning in a highly desirable residential area, combined with its proximity to local attractions, including the St. Joseph lighthouse, beaches, golf course, and downtown amenities, ensures strong rental demand. The property's exceptional location and recent renovations make it an ideal investment for discerning buyers seeking a high-return, turn-key operation. The building's historical charm and modern updates create a truly unique and desirable rental experience. This is a rare opportunity to own a piece of St. Joseph's rich history while enjoying significant income potential.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
R1 - E · Saint Joseph, MISaint Joseph. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.