$750,000
Grand Rapids, MI 49503
MLS# 26058157
1 / 34
Property Description
An amazing investment opportunity in Heritage Hill! This 5 unit property has separate gas and electric and is currently bringing in 7,565 dollars per month in rent. The spacious 1 bedroom, 1 bathroom units are easily rented, where tenants can walk to several bars and restaurants in the Wealthy street corridor. Call today to set up a showing and add 558 Madison to your investment portfolio!
Details
Location & Property Info
Cross Streets: Wealthy and Pleasant
Property Sub-Type: 5+ Units
Municipality: City of Grand Rapids
Office/Contract Info
Auction or For Sale: For Sale
General Property Info
New Construction: No
Lot Dimensions: 50x132
Road Frontage: 50
Cert of Compliance: Yes
Waterfront: No
Basement: Yes
Total # Units: 5
# of Diff Unit Floor Plans: 5
Total # Bldgs: 1
Total Parking Spaces: 2
School District: Grand Rapids
Association YN: No
Lot Measurement: Acres
Lot Square Footage: 6578
Lot Acres: 0.15
Year Built: 1905
Tax Info
Taxable Value: 274052
SEV: 326700
For Tax Year: 2025
Seller's Annual Property Tax: 14150
Tax Year: 2025
Homestead %: 0
Spec Assessment & Ty: N/A
Tax ID #: 41-14-31-205-014
Remarks & Misc
Public Remarks: An amazing investment opportunity in Heritage Hill! This 5 unit property has separate gas and electric and is currently bringing in 7,565 dollars per month in rent. The spacious 1 bedroom, 1 bathroom units are easily rented, where tenants can walk to several bars and restaurants in the Wealthy street corridor. Call today to set up a showing and add 558 Madison to your investment portfolio!
Legal: LOT 1* HEALD ADDITION* ALSO LOT 35 OF DORAN S ASSESSOR S PLAT NO 3
Street Type
Paved: 1
Util Avail at Street
Cable Available: 1
Electricity Available: 1
High Speed Internet: 1
Natural Gas Available: 1
Public Sewer: 1
Public Water: 1
Utilities Attached
Electricity Connected: 1
Natural Gas Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
Exterior Material
Wood Siding: 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
Driveway
Paved: 1
Substructure
Michigan Basement: 1
Owner Pays
Sewer: 1
Trash Collection: 1
Water: 1
Unit 1
Unit Description: 1
SqFt: 11000
Occupied: Yes
Monthly Rent: 1595
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 2
Unit Description: 2
SqFt: 775
Occupied: Yes
Monthly Rent: 1450
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 3
Unit Description: 3
SqFt: 796
Occupied: Yes
Monthly Rent: 1510
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 4
Unit Description: 4
SqFt: 796
Occupied: Yes
Monthly Rent: 1505
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 5
Unit Description: 5
SqFt: 626
Occupied: Yes
Monthly Rent: 1505
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Possession
Close Of Escrow: 1
Subject To Tenant Rights: 1
Location Property Info
County: Kent
Street #: 558
Street Name: Madison
Suffix: Avenue
Post Direction: SE
State: MI
Zip Code: 49503
OfficeContract Info
Status: Active
Current Price: $750,000
List Price: $750,000
Listing Date: 2026-11-02
Remarks Misc
Directions: South of Wealthy east side of street
Property Features
Exterior Material: Wood Siding
Substructure: Michigan Basement
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected; Natural Gas Connected
Util Avail at Street: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Public Sewer; Public Water
Owner Pays: Sewer; Trash Collection; Water
Tenant Pays: Electric; Gas
Heat Source: Natural Gas
Heat Type: Forced Air
Driveway: Paved
Street Type: Paved
Terms Available: Cash; Conventional
Possession: Close Of Escrow; Subject To Tenant Rights
Sale Conditions: None
Listing Office: Five Star Real Estate (Ada)
Listing Agent: Lauren Karsten
Last Updated: November - 06 - 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.