408 Ann Street | 11-Unit Stabilized MSU Student Housing Asset

Located at 408 Ann Street, this stabilized, income-producing multifamily property represents a premier student housing investment in one of Michigan's most resilient rental markets.

Perfectly positioned just three blocks from the Michigan State University (MSU) campus, this 11-unit apartment building delivers unmatched walkability. It is highly sought after by graduate students who prioritize proximity to academic resources, research facilities, and a quiet living environment over distant, amenity-heavy mega-complexes.

The Numbers at a Glance (Property Financials & Data)

Core Investment Highlights

1. Flawless Historical Performance: 100% Occupancy for 8 Consecutive Years

This is not a generic marketing claim; it is a documented, historical track record. 408 Ann Street has maintained a perfect 100% occupancy rate for eight consecutive school years. The relentless demand for quality, highly proximate housing among MSU’s massive graduate student population keeps vacancy risk virtually nonexistent year after year.

2. Built-In Income Expansion: Licensed for Up to 22 Beds

While the property currently operates seamlessly with a stable, proven rent roll at 11 beds, it carries a state-issued license supporting up to 22 beds. This provides an incoming investor with a clear, legally documented path to nearly double the property's income-generating capacity without having to navigate painful municipal zoning changes or change-of-use hurdles.

3. Untapped Value-Add Revenue Streams: Onsite Parking

In a high-density university neighborhood, parking is at an absolute premium. The property features dedicated onsite parking, which represents an immediate, largely untapped revenue stream. Charging market rates for parking spaces to students, faculty, and university staff can significantly boost your bottom line.

4. Lean, High-Efficiency Asset Management

Spanning 4,808 square feet of net rentable space on a 0.14-acre lot, the building's compact, efficient footprint keeps ongoing operating overhead and maintenance costs lean. Because the location commands premium rents driven by absolute geographic scarcity rather than market seasonality, investors enjoy strong, consistent cash flow from day one.

Location Analytics & Market Strength: Prime MSU Location

Location is the ultimate hedge against market volatility, and 408 Ann Street occupies a truly "prime" micro-location. Sited a mere three blocks from the edge of the Michigan State University campus, the property benefits from a perpetual pool of renters.

The immediate neighborhood boasts:

• Unmatched Walkability: Graduate students can easily walk to libraries, labs, and classrooms, saving thousands annually on campus parking permits.

• High-Barrier Submarket: Strict local zoning laws (RM-32) and land scarcity make new student housing developments in this immediate radius nearly impossible, protecting your investment from new supply blocks.

• Resilient Student Profile: Graduate students typically sign longer leases, take better care of real estate assets, and have higher income reliability compared to traditional undergraduate student populations.