408 Ann Street, East Lansing city, Michigan

About 408 Ann Street

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 Map