$375,000
Grand Rapids, MI 49507
MLS# 26022546
1 / 13
Property Description
Turnkey four-unit investment opportunity in the SE side of Grand Rapids. All four 2-bedroom 1-bath units feature many recent updates including remodeled kitchens and baths, updated flooring, and plumbing improvements. Separate gas and electric meters help streamline management expenses. The new upper-level deck adds additional outdoor space attractive to renters. 2 of the 4 furnaces have been replaced in the last 3 years. Excellent location near downtown Grand Rapids, medical campuses, dining, entertainment, and major highway access.
Details
Location & Property Info
Modifier: 1048
Cross Streets: Hall and Lafayette
Property Sub-Type: 2 to 4 Units
Municipality: City of Grand Rapids
Office/Contract Info
Auction or For Sale: For Sale
List Price/SqFt: 85.38
General Property Info
New Construction: No
Lot Dimensions: 41 x 109
Financial Available: Yes
Road Frontage: 41
Cert of Compliance: Yes
Waterfront: No
Basement: Yes
Total # Units: 4
# of Diff Unit Floor Plans: 4
Total # Bldgs: 1
Total Approx. SqFt All Bldgs: 4392
Total Parking Spaces: 0
School District: Grand Rapids
Lot Measurement: Acres
Lot Square Footage: 4487
Lot Acres: 0.1
Year Built: 1900
Tax Info
Taxable Value: 93446
SEV: 196100
For Tax Year: 2026
Seller's Annual Property Tax: 4698.26
Tax Year: 2025
Homestead %: 0
Spec Assessment & Ty: 0
Zoning: residential
Tax ID #: 41-14-31-378-012
Remarks & Misc
Public Remarks: Turnkey four-unit investment opportunity in the SE side of Grand Rapids. All four 2-bedroom 1-bath units feature many recent updates including remodeled kitchens and baths, updated flooring, and plumbing improvements. Separate gas and electric meters help streamline management expenses. The new upper-level deck adds additional outdoor space attractive to renters. 2 of the 4 furnaces have been replaced in the last 3 years. Excellent location near downtown Grand Rapids, medical campuses, dining, entertainment, and major highway access.
Legal: LOT 28* GRAFF ADDITION
Lot Description
Level: 1
Sidewalk: 1
Income and Expenses
Annual Insurance: 1574
Annual Utilities: 1848.75
Gross Op. Inc.: 48360
Net Operating Income: 31656.76
Operating Expense: 16703.24
Street Type
Paved: 1
Public: 1
Util Avail at Street
High Speed Internet: 1
Storm Sewer: 1
Utilities Attached
Cable Connected: 1
Electricity Connected: 1
Natural Gas Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
Mineral Rights
Unknown: 1
Laundry Features
In Unit: 1
Exterior Material
Vinyl Siding: 1
Roofing
Composition: 1
Rubber: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Forced Air: 1
Access Feat
Accessibility Features: No
Tenant Pays
Electric: 1
Gas: 1
Trash: 1
Driveway
None: 1
Substructure
Full: 1
Walk-Out Access: 1
Extras
Laundry Facility: 1
Sep Electric Meter: 1
Sep Gas Meter: 1
Owner Pays
Sewer: 1
Water: 1
Unit 1
Unit #: 1046
Unit Description: A
SqFt: 1000
Occupied: Yes
Monthly Rent: 1025
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Deck/Patio: 1
Range Oven: 1
Refrigerator: 1
Unit 2
Unit #: 1046
Unit Description: B
SqFt: 1000
Occupied: No
Monthly Rent: 1100
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Deck/Patio: 1
Range/Oven: 1
Refrigerator: 1
Unit 3
Unit #: 1048
Unit Description: A
SqFt: 1000
Occupied: No
Monthly Rent: 1100
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Deck/Patio: 1
Refrigerator: 1
Sep. Heat System: 1
Unit 4
Unit #: 1048
Unit Description: B
SqFt: 900
Occupied: Yes
Monthly Rent: 1100
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Deck/Patio: 1
Range/Oven: 1
Refrigerator: 1
Possession
Close Of Escrow: 1
Subject To Tenant Rights: 1
Location Property Info
County: Kent
Street #: 1046
Street Name: Lafayette
Suffix: Avenue
Post Direction: SE
State: MI
Zip Code: 49507
Zip (4): 1107
OfficeContract Info
Status: Active
Current Price: $375,000
List Price: $375,000
Listing Date: 2026-05-15
Property Features
Laundry Features: In Unit
Exterior Material: Vinyl Siding
Roofing: Composition; Rubber
Substructure: Full; Walk-Out Access
Lot Description: Level; Sidewalk
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected
Util Avail at Street: High Speed Internet; Storm Sewer
Extras: Laundry Facility; Sep Electric Meter; Sep Gas Meter
Owner Pays: Sewer; Water
Tenant Pays: Electric; Gas; Trash
Heat Source: Natural Gas
Heat Type: Forced Air
Driveway: None
Street Type: Paved; Public
Mineral Rights: Unknown
Terms Available: Cash; Conventional
Possession: Close Of Escrow; Subject To Tenant Rights
Sale Conditions: None
Unit 1: Deck/Patio; Range Oven; Refrigerator
Unit 2: Deck/Patio; Range/Oven; Refrigerator
Unit 3: Deck/Patio; Refrigerator; Sep. Heat System
Unit 4: Deck/Patio; Range/Oven; Refrigerator
Listing Office: Keller Williams GR North
Listing Agent: Roger Ackerman
Last Updated: May - 24 - 2026
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