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$349,000
Est. payment /mo
3 Baths
8,712 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Hastings
Subdivision Hastings
MLS Listing ID 20251027913
Year Built 1900
Annual Tax Amount $5,799
Lot Size 8,712 Sqft
Acres 0.2
Lot Dimensions 68 X 133 X 67 X 133
Source Realcomp
Property Description
Fabulous investment opportunity in the heart of Hastings being offered at a 8.96% Cap Rate. 3 Unit Apartment but has mixed zoning and could be used for other purposes if so desired. Unlock the potential of this rare gem in the heart of the city's vibrant PUD district! This versatile three-unit property is zoned for apartment, commercial, and office use, making it a dream opportunity for entrepreneurs, small business owners, or savvy investors.Currently, the property is fully occupied by three separate tenants: two charming 1-bedroom units and a spacious 2-bedroom unit, ensuring steady rental income from day one. The flexible zoning allows you to reimagine the space as a boutique office, creative studio, or continue as a multi-family rental—tailor it to your vision!Many updates to include 2 new hot water heaters, 2 new showers. 2 new Range ovens, 2 new refrigerators.Step outside and you're tenants just moments from the best of downtown Hastings. Enjoy proximity to local favorites like Walldorff Brewpub & Bistro, Seasonal Grille, and the historic Barry County Courthouse. Daily conveniences are at their fingertips with Family Fare Supermarket and Walgreens nearby, while the Thornapple River Walk and Tyden Park offer scenic escapes just blocks away.Whether you're looking to expand your investment portfolio or launch your next business venture, 502 W. State Street delivers unmatched flexibility, location, and income potential. Don't miss your chance to own a cornerstone property in one of Hastings' most dynamic neighborhoods!Proforma available based on current rents and expenses.
Location
State MI
County Barry
Zoning Commercial,Multiple,Offic
Direction Located on SE corner of S. Washington and W. State Street
Interior
Heating Forced Air
Cooling Central Air
Exterior
View Y/N No
Handicap Access No Step Entrance, Ramped Entrance
Building
Lot Description Sidewalk
Water Public
Structure Type Vinyl Siding
Schools
School District Hastings
Others
Tax ID 5500120500
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Epique Realty
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Nick Schweihofer
Team Leader, Broker | License ID: 6506047709
Team Leader, Broker License ID: 6506047709
REVIEWS
- Nick did an awesome job in helping us find and purchase our condo. He listened to our wants and identified options and in the end we found a good fit for our needs for a vacation home Since we are far from Holland Nick set up a couple video tours to reduce travel. Thanks Nick for all the hard work and insight. We are very excited about our new home!Gordon L
- Nick was awesome to work with! I just went through the process of purchasing my first home and Nick couldn’t have made it any easier. He is super knowledgeable about the industry and the area. He answered all my questions and made sure to point out things I may not be thinking of since it was my first time going through the process. He was attentive, super responsive, easy to talk to, and truly cares about finding his clients a home they’ll love! I’m looking forward to working with him again in the future and would definitely recommend him as an agent!Emily Rzeszutko
- Nick was amazing to work with! This was my first time buying a house. Nick was very patient and took the time to walk me through everything and address all my questions. He was always quick to respond. He was clearly knowledgeable about the area and was great at pointing out and educating me on issues to watch for as we walked through houses. I absolutely recommend Nick to anyone buying or selling a home, and look forward to working with him again in the future!Kayla Kocal
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