Property Type:
Multi Family
Lot Size (sq. ft.):
26,615
Status:
Sold
Current Price:
$1,495,000
List Date:
2/19/2025
Last Modified:
5/02/2025
1129 Lyon Street NE, Grand Rapids, MI 49503
$1,455,000
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!
More Information MLS# 24059440
Location & Property Info
Cross Streets: Fuller Ave NE
Property Sub-Type: 5+ Units
Municipality: City of Grand Rapids
Ownership Type: Private Owned
Office/Contract Info
Auction or For Sale: For Sale
List Price/SqFt: 238.36
General Property Info
New Construction: No
Lot Dimensions: 110 x 243
Financial Available: Yes
Road Frontage: 110
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2027-03-22
Waterfront: No
Basement: Yes
Total # Units: 8
# of Diff Unit Floor Plans: 4
Total # Bldgs: 2
Total Approx. SqFt All Bldgs: 6272
Total Parking Spaces: 16
School District: Grand Rapids
Lot Measurement: Acres
Lot Square Footage: 26615
Lot Acres: 0.61
Year Built: 1961
Tax Info
Taxable Value: 421185
SEV: 453000
For Tax Year: 2024
Seller's Annual Property Tax: 23581.5
Tax Year: 2023
Homestead %: 0
Spec Assessment & Ty: none known
Zoning: Comm Imp
Tax ID #: 41-14-29-130-031
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
Status Change Info
Sold Price/SqFt: 231.98
Under Contract Date: 2025-03-08
Sold Date: 2025-05-02
Sold Price: $1,455,000
Lot Description
Level: 1
Street Type
Paved: 1
Public: 1
Util Avail at Street
Cable Available: 1
Electricity Available: 1
Natural Gas Available: 1
Phone Available: 1
Public Sewer: 1
Public Water: 1
Utilities Attached
Electricity Connected: 1
Natural Gas Connected: 1
Phone Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Other: 1
Laundry Features
In Unit: 1
Exterior Material
Brick: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Forced Air: 1
Air Conditioning
Central Air: 1
Access Feat
Accessibility Features: No
Tenant Pays
Electric: 1
Gas: 1
Sewer: 1
Trash: 1
Water: 1
Driveway
Paved: 1
Substructure
Full: 1
Owner Pays
None: 1
Unit 1
Unit #: 1
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 2
Unit #: 2
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 3
Unit #: 3
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 4
Unit #: 4
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Possession
Close Of Escrow: 1
Location Property Info
County: Kent
Street #: 1129
Street Name: Lyon
Suffix: Street
Post Direction: NE
State: MI
Zip Code: 49503
Zip (4): 3668
Area: Grand Rapids - G
OfficeContract Info
Status: Sold
Current Price: $1,455,000
List Price: $1,495,000
Listing Date: 2024-11-14
Remarks Misc
Directions: Between Michigan and Fulton. West off Fuller on Lyon.
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
Listing Office:
EXP Realty (Grand Rapids)
Listing Agent:
Ryan Ogle
Last Updated: May - 02 - 2025
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.
