408 Ann Street
East Lansing, MI 48823

Finished sq ft

5,760

Lot

0.14 acres

Year built

1940

Property type

C

County

Ingham

Subdivision

East Lansing

MLS #

20261039024

About this home

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.

Listing courtesy of Keller Williams Paint Creek · Realcomp · Listing agent: Brian Kirksey