502 W State Street, Hastings, MI 49058

• 3 baths |
• 2,278 sqft

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.

Listing Status:

Active

Date Added:

August 16, 2025 at 05:00AM

Listing Office:

Epique Realty : 248-218-2604

Listing Agent:

David Elwood : 248-568-5958

MLS ID:

60928536

Interior

• Appliances: Gas Water Heater
• Laundry: Common Area
• Basement: Block
• A/C: Central Air
• Heating: Forced Air

Exterior

• Style: Colonial
• Other Structures: Porch

Construction

• General: Vinyl SidingTwoBasement

Location

• Road/Access: Paved
• Originating MLS: MiRealSource
• School District: Hastings Area School District
• County: Barry

Lot

• Zoning: LOT 668 OF ORIG PLAN OF THE VILLAGE (NOW CITY) OF HASTINGS.

Utilities

• Water: Public

Financial

• Source: MiRealSource

This listing courtesy of David Elwood, Epique Realty