$399,900
Grand Rapids, MI 49503
MLS# 26056954
1 / 30
Property Description
Don't miss this fantastic opportunity to own a charming historic home just a one-minute walk from vibrant Wealthy Street and all its shops, restaurants, and neighborhood attractions! This well-maintained two-unit property offers a great investment opportunity with $3,175 in monthly gross rental income. The lower unit has been occupied by the same tenants for four years, while the upper unit was recently leased. Both leases run through July 2027. Updates throughout both units, separate furnaces and water heaters located in the common basement, and split utilities add to the property's appeal. A rear garage and two available parking spaces provide added convenience. Whether you're looking to expand your investment portfolio or eventually make one unit your own, this property offers historic charm, a desirable location, and excellent rental potential in one of Grand Rapids' most sought-after neighborhoods! *Note pictures were taken when vacant. Professional property management available.
Details
Location & Property Info
Cross Streets: Wealthy
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: 175.09
General Property Info
New Construction: No
Lot Dimensions: 50*126
Financial Comments: occupied by tenants
Road Frontage: 50
Cert of Compliance: Yes
Waterfront: No
Basement: Yes
Total # Units: 2
# of Diff Unit Floor Plans: 1
Total # Bldgs: 1
Total Approx. SqFt All Bldgs: 2284
Total Parking Spaces: 4
School District: Grand Rapids
Association YN: No
Lot Measurement: Acres
Lot Square Footage: 6316
Lot Acres: 0.14
Year Built: 1885
Tax Info
Taxable Value: 112804
SEV: 173400
For Tax Year: 2025
Seller's Annual Property Tax: 5946.57
Tax Year: 2026
Homestead %: 0
Spec Assessment & Ty: N/A
Zoning: RMHH2_RES MULTI
Tax ID #: 41-14-31-204-016
Remarks & Misc
Public Remarks: Don't miss this fantastic opportunity to own a charming historic home just a one-minute walk from vibrant Wealthy Street and all its shops, restaurants, and neighborhood attractions! This well-maintained two-unit property offers a great investment opportunity with $3,175 in monthly gross rental income. The lower unit has been occupied by the same tenants for four years, while the upper unit was recently leased. Both leases run through July 2027. Updates throughout both units, separate furnaces and water heaters located in the common basement, and split utilities add to the property's appeal. A rear garage and two available parking spaces provide added convenience. Whether you're looking to expand your investment portfolio or eventually make one unit your own, this property offers historic charm, a desirable location, and excellent rental potential in one of Grand Rapids' most sought-after neighborhoods! *Note pictures were taken when vacant. Professional property management available.
Legal: LOT 10 BLK 2* MILLS ADDITION
Lot Description
Wooded: 1
Income and Expenses
Annual Insurance: 700
Gross Op. Inc.: 15600
Net Operating Income: 14060
Operating Expense: 1540
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
Mineral Rights
Unknown: 1
Laundry Features
In Basement: 1
Exterior Material
Wood Siding: 1
Roofing
Composition: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Forced Air: 1
Air Conditioning
None: 1
Access Feat
Accessibility Features: No
Tenant Pays
Electric: 1
Gas: 1
Trash: 1
Driveway
Paved: 1
Substructure
Full: 1
Extras
Garages: 1
Owner Pays
Water: 1
Unit 1
Unit #: 1
Unit Description: LR/FP, 2BR,FDR, KIT,
Occupied: Yes
Monthly Rent: 1525
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 2
Unit #: 2
Unit Description: upper
Occupied: Yes
Monthly Rent: 1650
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Possession
Close Of Escrow: 1
Location Property Info
County: Kent
Street #: 437
Street Name: Union
Suffix: Avenue
Post Direction: SE
State: MI
Zip Code: 49503
Zip (4): 5408
OfficeContract Info
Status: Active
Current Price: $399,900
List Price: $399,900
Listing Date: 2026-10-26
Remarks Misc
Directions: Wealthy to Union
Property Features
Laundry Features: In Basement
Exterior Material: Wood Siding
Roofing: Composition
Substructure: Full
Lot Description: Wooded
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: Garages
Owner Pays: Water
Tenant Pays: Electric; Gas; Trash
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: None
Driveway: Paved
Street Type: Paved
Mineral Rights: Unknown
Terms Available: Cash; Conventional
Possession: Close Of Escrow
Sale Conditions: None
Listing Office: United Realty Services LLC
Listing Agent: Timothy J VandenToorn
Last Updated: October - 26 - 2026
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.