$225,000
Grand Rapids, MI 49503
MLS# 24015907
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Property Description
Wow!! Cash flowing investment property for under 250k! 2 Units. Unit 1: Upper: 2 bedroom, 1 bath, current rent is $1,200 per month. Unit: 2 Lower: 2 bedrooms, 1 bath current rent is $1,500 per month. Total rents are $2,700 per month!! Off-Street parking off alley. property is located near major bus routes. Walking distance to Coit Arts Academy, Medical Mile, Downtown GR, and Colleges. Tenant's rights apply. 24 hour notice for showings required. Pre approval or proof of funds required by seller before any showings are approved. Seller has 3 other 2 family units for sale as well. MLS 24015903, MLS 24015962 & MLS 24015981.
Details
Maps
Documents
Location & Property Info
County: Kent
Street #: 725
Street Name: Lafayette
Suffix: Avenue
Post Direction: NE
State: MI
Zip Code: 49503
Cross Streets: Lafayette and Fairbanks
Property Sub-Type: 2 to 4 Units
Area: Grand Rapids - G
Municipality: City of Grand Rapids
Office/Contract Info
Status: Active
Current Price: $225,000
List Price: $225,000
Auction or For Sale: For Sale
Sub Agency Type: %
Buyer Agency: 3
Buyer Agency Type: %
Trans Coord Type: %
Listing Date: 2024-04-04
General Property Info
Lot Measurement: Acres
Lot Square Footage: 6050
Lot Acres: 0.14
Lot Dimensions: 50' x 121'
Year Built: 1890
New Construction: No
Financial Available: No
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2028-04-06
Road Frontage: 50
Total # Units: 2
# of Diff Unit Floor Plans: 2
Total # Bldgs: 1
Total Parking Spaces: 4
Waterfront: No
School District: Grand Rapids
Tax Info
Tax ID #: 41-14-19-327-033
Taxable Value: 30102
SEV: 96500
For Tax Year: 2024
Annual Property Tax: 1509
Tax Year: 2023
Zoning: multi family
Remarks & Misc
Directions: Take Lafayette north off Michigan or South off Leonard to property. Park on Lafayette.
Legal: LOT 46* MOHRHARD S SECOND SUBDIVISION* OF PART OF LOTS 59 & 60 COIT & CURTIS PARTITION PLAT
Waterfront Options
Water Access Y/N: No
Access Feat
Accessibility Features: No
Unit 1
Unit #: 1
Unit Description: Lower
SqFt: 850
Occupied: Yes
Monthly Rent: 1500
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 2
Unit #: 2
Unit Description: Upper
SqFt: 800
Occupied: Yes
Monthly Rent: 1200
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Property Features
Exterior Material: Shingle Siding
Roofing: Composition
Substructure: Michigan Basement
Lot Description: Level; Sidewalk
Sewer: Public
Water: Public
Utilities Attached: Electric; Natural Gas
Util Avail at Street: Broadband; Cable; Electric; Natural Gas; Public Sewer; Public Water; Storm Sewer
Extras: Sep Electric Meter; Sep Gas Meter
Owner Pays: Water
Tenant Pays: Electric; Gas; Trash
Heat Source: Electric; Natural Gas
Heat Type: Hot Water; Space Heater
Driveway: Easement
Street Type: Paved; Public
Mineral Rights: Unknown
Terms Available: Cash; Conventional
Sale Conditions: None
Lead Based Paint Disclosure 
Listing Office: Five Star Real Estate (Grandv)
Listing Agent: David VanDam
Last Updated: April - 28 - 2024
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