415 W State Street
Corunna, MI 48817

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Description

Turnkey income-producing triplex in Corunna, Michigan — generating $22,620 in annual rental income with all 3 units currently leased. This well-maintained 1910 property features a diverse unit mix: a 3-bedroom (1,100 sq ft, $685/mo), a 2-bedroom (920 sq ft, $775/mo), and a studio (250 sq ft, $425/mo), creating multiple income streams and broad tenant appeal.At a list price of $159,900 and a net operating income of $16,979, this property delivers a cap rate of approximately 10.6% — well above typical market benchmarks and an outstanding return for the price point.Situated on a spacious 0.32-acre lot (102x145), the building includes an unfinished basement with upside potential, natural gas forced air heating with separate meters, deck and porch, public water and sewer, asphalt roof, and assigned parking.Priced at just $70.50/sq ft with immediate cash flow in place — this is a straightforward addition to any investment portfolio. By appointment only.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family Home
• Listing Status: Active
• County/Area: Shiawassee County
• Zip Code: 48817
• Year Built: 1910
• School District: Corunna
• Basement: Michigan Basement, Yes
• Lot Size: 13939 sq ft lot
• Zoning: Residential
• Construction Materials: Wood Siding
• Directions: Norton Street / Mizn / er Street
• Gross Income: 22620
• Heat Source: Natural Gas
• Heating: Forced Air
• Lot Size Area: 0.32
• Lot Size Square Feet: 13939.2
• Lot Size Units: Acres
• Main Type: Multi Family
• Operating Expense: 5641
• Parcel Number: 0261003400300
• Road Frontage: 102
• SEV: 64300
• Street Type: Paved
• Tax Annual Amount: 3638
• Tax Legal Description: CITY OF CORUNNA ORIGINAL PLAT LOTS 3 & 4, BLK 34
• Total Approx Sq Ft All Bldgs: 2268
• Total Num Units: 3
• Water Source: Public