$465,000
Grand Rapids, MI 49503
MLS# 26055977
1 / 32
Property Description
This well-positioned, affordable Heritage Hill triplex pairs recent updates with an exceptional location near downtown Grand Rapids, the Wealthy Street corridor, and Cherry Street's shops and restaurants. Currently owner-occupied, the main residence features original millwork, oak floor, fireplace, large airy living room, formal dining, 1.5 bathrooms, and a recently refinished front room with inviting views of beautiful Madison Avenue. Two upstairs apartments—a studio with a walk-up attic and a one-bedroom—are home to long-term tenants and generate combined rental income of over $2,000 per month. The basement's exceptionally tall ceilings offer potential for a workshop or creative space, while the backyard provides room for recreation and a deep concrete parking pad. Its hilltop setting offers an open view of the sky, perfect for watching sunsets and storms roll in. A bus stop and shared scooter access at the end of the street add convenient transportation options to Downtown & Uptown.
Details
Location & Property Info
Cross Streets: Madison, Wealthy, Cherry
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: 159.03
General Property Info
New Construction: No
Lot Dimensions: 51x149
Financial Available: Yes
Road Frontage: 51
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2027-02-01
Waterfront: No
Basement: Yes
Total # Units: 3
# of Diff Unit Floor Plans: 3
Total # Bldgs: 1
Total Approx. SqFt All Bldgs: 2924
Total Parking Spaces: 3
School District: Grand Rapids
Association YN: No
Lot Measurement: Acres
Lot Square Footage: 7599
Lot Acres: 0.17
Year Built: 1880
Tax Info
Taxable Value: 217267
SEV: 252800
For Tax Year: 2025
Seller's Annual Property Tax: 9046
Tax Year: 2025
Homestead %: 55
Spec Assessment & Ty: None
Zoning: Residential
Tax ID #: 41-14-30-381-045
Remarks & Misc
Public Remarks: This well-positioned, affordable Heritage Hill triplex pairs recent updates with an exceptional location near downtown Grand Rapids, the Wealthy Street corridor, and Cherry Street's shops and restaurants. Currently owner-occupied, the main residence features original millwork, oak floor, fireplace, large airy living room, formal dining, 1.5 bathrooms, and a recently refinished front room with inviting views of beautiful Madison Avenue. Two upstairs apartments—a studio with a walk-up attic and a one-bedroom—are home to long-term tenants and generate combined rental income of over $2,000 per month. The basement's exceptionally tall ceilings offer potential for a workshop or creative space, while the backyard provides room for recreation and a deep concrete parking pad. Its hilltop setting offers an open view of the sky, perfect for watching sunsets and storms roll in. A bus stop and shared scooter access at the end of the street add convenient transportation options to Downtown & Uptown.
Legal: LOT 32 & E 1/2 OF VACATED ALLEY ADJ ON W* WELTON S ADDITION
Income and Expenses
Gross Op. Inc.: 2010
Street Type
Paved: 1
Util Avail at Street
Cable Available: 1
Electricity Available: 1
High Speed Internet: 1
Natural Gas Available: 1
Phone Available: 1
Public Sewer: 1
Public Water: 1
Storm Sewer: 1
Utilities Attached
Cable Connected: 1
Electricity Connected: 1
Natural Gas Connected: 1
Phone Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
FHA: 1
MSHDA: 1
VA Loan: 1
Laundry Features
Common Area: 1
Laundry Room: 1
Exterior Material
Stone: 1
Wood Siding: 1
Roofing
Composition: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Forced Air: 1
Wall Furnace: 1
Air Conditioning
Window Unit(s): 1
Access Feat
Accessibility Features: No
Tenant Pays
Gas: 1
Driveway
Paved: 1
Substructure
Full: 1
Extras
Laundry Facility: 1
Sep Gas Meter: 1
Owner Pays
Electricity: 1
Sewer: 1
Trash Collection: 1
Water: 1
Unit 1
Unit #: 1
Unit Description: Lower, OwnerOccupied
SqFt: 1426
Occupied: Yes
Monthly Rent: 2000
Bedrooms: 2
Bathrooms: 2
Full Baths: 1
Half Baths: 1
Unit 2
Unit #: 2
Unit Description: Upper - Front
SqFt: 650
Occupied: Yes
Monthly Rent: 1100
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 3
Unit #: 3
Unit Description: Upper - Back
SqFt: 650
Occupied: Yes
Monthly Rent: 910
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Range/Oven: 1
Refrigerator: 1
Possession
Close Plus 30 Days: 1
Negotiable: 1
Location Property Info
County: Kent
Street #: 321
Street Name: Madison
Suffix: Avenue
Post Direction: SE
State: MI
Zip Code: 49503
Zip (4): 4686
OfficeContract Info
Status: Active
Current Price: $465,000
List Price: $465,000
Listing Date: 2026-10-21
Remarks Misc
Directions: Madison SE, between Wealthy and Cherry.
Property Features
Laundry Features: Common Area; Laundry Room
Exterior Material: Stone; Wood Siding
Roofing: Composition
Substructure: Full
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at Street: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Phone Available; Public Sewer; Public Water; Storm Sewer
Extras: Laundry Facility; Sep Gas Meter
Owner Pays: Electricity; Sewer; Trash Collection; Water
Tenant Pays: Gas
Heat Source: Natural Gas
Heat Type: Forced Air; Wall Furnace
Air Conditioning: Window Unit(s)
Driveway: Paved
Street Type: Paved
Terms Available: Cash; Conventional; FHA; MSHDA; VA Loan
Possession: Close Plus 30 Days; Negotiable
Sale Conditions: None
Unit 3: Range/Oven; Refrigerator
Listing Office: Grand River Realty
Listing Agent: Pete J Bruinsma
Last Updated: October - 26 - 2026
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