$1,455,000
Grand Rapids, MI 49503
MLS# 24059440
Status: Sold
1 / 29
Property Description
Now offering this solid 8-unit real estate investment opportunity in Grand Rapids, Michigan. Situated in a high-rent district and close to shopping, restaurants, highways, hospitals and more. All 8 units have been tastefully remodeled, and the property is completely turnkey. Each unit features 2 sizable bedrooms, 1 bathroom, updated kitchen and living room spaces and private laundry. Plenty of private off-street parking available. New roofs, Pella windows, A/C units and furnaces as of 2 years ago. Tenants pay all utilities except for water. Possible value-add with garden unit development in the basements. Don't miss out on this opportunity to build your rental portfolio!
Details
Maps
Location Property Info
County: Kent
Street #: 1129
Street Name: Lyon
Suffix: Street
Post Direction: NE
State: MI
Zip Code: 49503
Zip (4): 3668
Area: Grand Rapids - G
OfficeContract Info
Status: Sold
Current Price: $1,455,000
List Price: $1,495,000
Listing Date: 2024-11-14
General Property Info
Lot Measurement: Acres
Lot Square Footage: 26615
Lot Acres: 0.61
Lot Dimensions: 110 x 243
Year Built: 1961
New Construction: No
Financial Available: Yes
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2027-03-22
Road Frontage: 110
Total # Units: 8
# of Diff Unit Floor Plans: 4
Total # Bldgs: 2
Total Approx. SqFt All Bldgs: 6272
Total Parking Spaces: 16
Waterfront: No
School District: Grand Rapids
Tax Info
Tax ID #: 41-14-29-130-031
Taxable Value: 421185
SEV: 453000
For Tax Year: 2024
Seller's Annual Property Tax: 23581.5
Tax Year: 2023
Spec Assessment & Ty: none known
Zoning: Comm Imp
Remarks Misc
Directions: Between Michigan and Fulton. West off Fuller on Lyon.
Status Change Info
Under Contract Date: 2025-03-08
Sold Date: 2025-05-02
Sold Price: $1,455,000
Sold Price/SqFt: 231.98
Access Feat
Accessibility Features: No
Unit 1
Unit #: 1
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 2
Unit #: 2
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 3
Unit #: 3
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 4
Unit #: 4
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Property Features
Laundry Features: In Unit
Exterior Material: Brick
Substructure: Full
Lot Description: Level
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at Street: Cable Available; Electricity Available; Natural Gas Available; Phone Available; Public Sewer; Public Water
Owner Pays: None
Tenant Pays: Electric; Gas; Sewer; Trash; Water
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: Central Air
Driveway: Paved
Street Type: Paved; Public
Terms Available: Cash; Other
Possession: Close Of Escrow
Sale Conditions: None
Listing Office: EXP Realty (Grand Rapids)
Listing Agent: Ryan Ogle
Last Updated: May - 02 - 2025
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
