Properties for sale in Michigan

Overview

Description

Now offering this solid 8-unit real estate investment opportunity in Grand Rapids, Michigan. Situated in a high-rent district and close to shopping, restaurants, highways, hospitals and more. All 8 units have been tastefully remodeled, and the property is completely turnkey. Each unit features 2 sizable bedrooms, 1 bathroom, updated kitchen and living room spaces and private laundry. Plenty of private off-street parking available. New roofs, Pella windows, A/C units and furnaces as of 2 years ago. Tenants pay all utilities except for water. Possible value-add with garden unit development in the basements. Don't miss out on this opportunity to build your rental portfolio!

Location Property Info

County: Kent
Street #: 1129
Street Name: Lyon
Suffix: Street
Post Direction: NE
State: MI
Zip Code: 49503
Zip (4): 3668

General Property Info

Lot Measurement: Acres
Lot Square Footage: 26615
Lot Acres: 0.61
Lot Dimensions: 110 x 243
Year Built: 1961
New Construction: No
Financial Available: Yes
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2027-03-22
Road Frontage: 110
Total # Units: 8
# of Diff Unit Floor Plans: 4
Total # Bldgs: 2
Total Approx. SqFt All Bldgs: 6272
Total Parking Spaces: 16
Waterfront: No
School District: Grand Rapids
Basement: Yes

Tax Info

Tax ID #: 41-14-29-130-031
Taxable Value: 421185
SEV: 453000
For Tax Year: 2024
Seller's Annual Property Tax: 23581.5
Tax Year: 2023
Spec Assessment & Ty: none known
Zoning: Comm Imp
Homestead %: 0

Remarks Misc

Directions: Between Michigan and Fulton. West off Fuller on Lyon.

Status Change Info

Under Contract Date: 2025-03-08
Sold Date: 2025-05-02
Sold Price/SqFt: 231.98

More Information

Access Feat

Accessibility Features: No

Unit 1

Unit #: Yes
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bathrooms: Yes
Full Baths: Yes

Unit 2

Unit #: 2
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bathrooms: Yes
Full Baths: Yes

Unit 3

Unit #: 3
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bathrooms: Yes
Full Baths: Yes

Unit 4

Unit #: 4
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bathrooms: Yes
Full Baths: Yes

Location & Property Info

Cross Streets: Fuller Ave NE
Property Sub-Type: 5+ Units
Area: Grand Rapids - G
Municipality: City of Grand Rapids
Ownership Type: Private Owned

Office/Contract Info

Auction or For Sale: For Sale
List Price/SqFt: 238.36

Remarks & Misc

Legal: PART OF NE 1/4 OF NW 1/4 OF* SEC 29 T7N R11W* COM ON N LINE OF LYON ST 250 FT W OF W LINE OF FULLER AVE TH W ALONG N LINE OF LYON ST 110.4 FT MORE OR LESS TO A PT WHICH IS 261.9 FT E OF E LINE OF J F HANRAHAN ADD TH N PAR WITH W LINE OF FULLER AVE 24 3 FT TH E PAR WITH N LINE OF LYON ST TO A PT WHICH IS 250 FT W OF W LINE OF FULLER AVE TH S 243 FT TO BEG

Lot Description

Level: Yes

Street Type

Paved: Yes
Public: Yes

Util Avail at Street

Cable Available: Yes
Electricity Available: Yes
Natural Gas Available: Yes
Phone Available: Yes
Public Sewer: Yes
Public Water: Yes

Utilities Attached

Electricity Connected: Yes
Natural Gas Connected: Yes
Phone Connected: Yes

Sewer

Public Sewer: Yes

Water

Public Water: Yes

Terms Available

Cash: Yes
Other: Yes

Laundry Features

In Unit: Yes

Exterior Material

Brick: Yes

Heat Source

Natural Gas: Yes

Sale Conditions

None: Yes

Heat Type

Forced Air: Yes

Air Conditioning

Central Air: Yes

Tenant Pays

Electric: Yes
Gas: Yes
Sewer: Yes
Trash: Yes
Water: Yes

Driveway

Paved: Yes

Substructure

Full: Yes

Owner Pays

None: Yes

Possession

Close Of Escrow: Yes

Property Features

Laundry Features: In Unit Exterior Material: Brick Substructure: Full Lot Description: Level Sewer: Public Sewer Water: Public Water Utilities Attached: Electricity Connected; Natural Gas Connected; Phone Connected Util Avail at Street: Cable Available; Electricity Available; Natural Gas Available; Phone Available; Public Sewer; Public Water Owner Pays: None Tenant Pays: Electric; Gas; Sewer; Trash; Water Heat Source: Natural Gas Heat Type: Forced Air Air Conditioning: Central Air Driveway: Paved Street Type: Paved; Public Terms Available: Cash; Other Possession: Close Of Escrow Sale Conditions: None

1129 Lyon Street NE, Grand Rapids, MI 49503