$449,900
Grand Rapids, MI 49507
MLS# 26047950
1 / 4
Property Description
**Rare 4-unit investment opportunity in Grand Rapids, offering immediate cash flow with room to grow, plus a built-in owner-occupant option.** All four units feature matching two bedroom, one bath layouts, keeping management simple and turnover predictable. The roof and windows were noted the time of purchase to have been recently replaced. One unit is currently vacant, ready to lease immediately or move into yourself, making this a great house-hack opportunity: live in one unit while the other three help cover the mortgage. For investors, that same vacancy is simply ready-to-lease upside.
Details
Location & Property Info
Cross Streets: Hall St
Property Sub-Type: 2 to 4 Units
Municipality: City of Grand Rapids
Ownership Type: Private Owned
Office/Contract Info
Auction or For Sale: For Sale
List Price/SqFt: 119.21
General Property Info
New Construction: No
Lot Dimensions: 42x102
Road Frontage: 42
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2027-08-11
Waterfront: No
Basement: Yes
Total # Units: 4
# of Diff Unit Floor Plans: 4
Total # Bldgs: 1
Total Approx. SqFt All Bldgs: 3774
Total Parking Spaces: 4
School District: Grand Rapids
Association YN: No
Lot Measurement: Acres
Lot Square Footage: 4792
Lot Acres: 0.11
Year Built: 1910
Tax Info
Taxable Value: 125600
SEV: 125600
For Tax Year: 2025
Seller's Annual Property Tax: 6239
Tax Year: 2025
Homestead %: 0
Spec Assessment & Ty: NA
Zoning: Res Inc
Tax ID #: 411336478006
Remarks & Misc
Public Remarks: **Rare 4-unit investment opportunity in Grand Rapids, offering immediate cash flow with room to grow, plus a built-in owner-occupant option.** All four units feature matching two bedroom, one bath layouts, keeping management simple and turnover predictable. The roof and windows were noted the time of purchase to have been recently replaced. One unit is currently vacant, ready to lease immediately or move into yourself, making this a great house-hack opportunity: live in one unit while the other three help cover the mortgage. For investors, that same vacancy is simply ready-to-lease upside.
Legal: N 42 FT OF LOT 26 & S 5 FT OF W 75 FT OF LOT 25* NAEGLE S FOURTH ADDITION
Waterfront Options
Water Access Y/N: No
Lot Description
Sidewalk: 1
Street Type
Paved: 1
Util Avail at Street
Cable Available: 1
Utilities Attached
Electricity Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
Mineral Rights
Unknown: 1
Exterior Material
Brick: 1
Roofing
Composition: 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
Substructure
Full: 1
Extras
Sep Electric Meter: 1
Sep Gas Meter: 1
Owner Pays
Sewer: 1
Water: 1
Unit 1
Unit #: 1
Unit Description: 1
SqFt: 944
Occupied: Yes
Monthly Rent: 1025
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Range Oven: 1
Refrigerator: 1
Sep. Heat System: 1
Unit 2
Unit #: 2
Unit Description: 2
SqFt: 944
Occupied: Yes
Monthly Rent: 850
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Range/Oven: 1
Refrigerator: 1
Sep. Heat System: 1
Unit 3
Unit #: 3
Unit Description: 3
SqFt: 944
Occupied: Yes
Monthly Rent: 1175
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Range/Oven: 1
Refrigerator: 1
Sep. Heat System: 1
Unit 4
Unit #: 4
Unit Description: 4
SqFt: 944
Occupied: No
Monthly Rent: 1175
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Range/Oven: 1
Refrigerator: 1
Sep. Heat System: 1
Possession
Close Of Escrow: 1
Location Property Info
County: Kent
Street #: 1054
Street Name: Ionia
Suffix: Avenue
Post Direction: SW
State: MI
Zip Code: 49507
OfficeContract Info
Status: Active
Current Price: $449,900
List Price: $449,900
Listing Date: 2026-09-09
Property Features
Exterior Material: Brick
Roofing: Composition
Substructure: Full
Lot Description: Sidewalk
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected
Util Avail at Street: Cable Available
Extras: Sep Electric Meter; Sep Gas Meter
Owner Pays: Sewer; Water
Tenant Pays: Electric; Gas
Heat Source: Natural Gas
Heat Type: Forced Air
Street Type: Paved
Mineral Rights: Unknown
Terms Available: Cash; Conventional
Possession: Close Of Escrow
Sale Conditions: None
Unit 1: Range Oven; Refrigerator; Sep. Heat System
Unit 2: Range/Oven; Refrigerator; Sep. Heat System
Unit 3: Range/Oven; Refrigerator; Sep. Heat System
Unit 4: Range/Oven; Refrigerator; Sep. Heat System
Supplements
Beyond that, this is a documented value-add opportunity. Another unit sits on a long-term lease priced below what comparable units in the building are already achieving, offering a clear, near-term path to a stronger rent roll without any renovation required. A third unit is Section 8 assisted, adding a layer of payment reliability to the property's income. Located minutes from downtown Grand Rapids in a submarket with steady rental demand, this is an efficient way to add meaningful door count in a single transaction, or to get into property ownership with tenants already helping you pay it down. Whether you're scaling a portfolio, executing a 1031 exchange, house-hacking your first property, or looking for a multifamily acquisition with upside already built in, 1054 Ionia offers a strong foundation and a clear plan forward. Rent roll and financials available upon request.
Listing Office: Bellabay Realty (North)
Listing Agent: Angela J Worth
Last Updated: October - 26 - 2026
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