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$ 995,000
Est. payment | /mo
10,507 SqFt
$ 995,000
Est. payment | /mo
10,507 SqFt
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Pending
Purchase Type For Sale
Square Footage 10,507 sqft
Price per Sqft $94
MLS Listing ID 65026013335
Year Built 1888
Lot Size 0.600 Acres
Acres 0.6
Property Sub-Type MultiFamily
Property Description
High-Yield 13-Unit Portfolio \ 0.6 Acres in Downtown Grand RapidsRare opportunity to acquire a stabilized, cash-flowing asset in the heart of Grand Rapids. This C+/B- class portfolio features 13 units spread across 6 homes on adjoining parcels, totaling 0.6 acres. With over $140,000 in annual gross rent and a history of low vacancy, this is a turnkey 'workforce housing' play. Major CapEx has already been addressed: all homes feature new roofs and the majority of furnaces have been recently updated. Controlled expenses and a prime location make this a premier addition to any institutional or private portfolio.
Location
State MI
County Kent
Area Area41142Grandrapids
Rooms
Basement Full
Interior
Heating Forced Air, Natural Gas
Fireplace No
Exterior
Parking Features Paved, SharedDriveway, Unpaved
Community Features Sidewalks
Utilities Available NaturalGasConnected, PhoneAvailable, SewerConnected
View Y/N No
Building
Lot Description Level
Sewer Public Sewer, Sewer At Street
Water Public
New Construction No
Schools
School District Grand Rapids
Others
Acceptable Financing Cash, Other
Listing Terms Cash, Other
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Listed by Ryan Ogle of EXP Realty (Grand Rapids)