116 and146 Coleman Street SE, Grand Rapids, MI 49548

$1,999,900
Property Type: Multi Family Lot Size (sq. ft.): 52,200 Status: Pending
Current Price: $1,999,900 List Date: 10/08/2025 Last Modified: 10/24/2025

Description

This is a rare opportunity for the smaller investor or investment group to own a solid 16-unit (2 building) apartment complex in desirable Gaines Township (lower millage rates than Kentwood or Wyoming). Units include five-1 bedroom units and eleven 2-bedroom units, a laundry room in each building, plus two 8-car carports and 12 more open air parking spaces. This is a one owner (seller bought from builder in 1985) - seller have enjoyed this investment for 40 years but ready to turn it over to younger buyers and then go sit in the sun. Rent has been kept below market for many long-term tenants. All units have separate heat and electric, owner pays for gas and electric in laundry room. Units are in a variety of updated conditions; some units have been recently updated while a few could use freshing up. Convenient to US 131 via 76th St. Seller will sell as a package, or is also willing to split the buildings into two properties (each building has its own parcel number and legal

Supplements: description. All units are between 600 and 650 square feet of living space. See attached documents for descriptions of all 16 units. Check and compare, nothing like it in Western Michigan.

More Information MLS# 25051684

Location & Property Info

Cross Streets: Division and Coleman Property Sub-Type: 5+ Units Municipality: Gaines Twp Ownership Type: Private Owned

Office/Contract Info

Auction or For Sale: For Sale

General Property Info

New Construction: No Lot Dimensions: 435x120x435x120 Road Frontage: 435 Cert of Compliance: No Waterfront: No Basement: No Total # Units: 16 # of Diff Unit Floor Plans: 2 Total # Bldgs: 2 Total Parking Spaces: 26 School District: Kentwood Lot Measurement: Acres Lot Square Footage: 52200 Lot Acres: 1.2 Year Built: 1984

Tax Info

Taxable Value: 301037 SEV: 459000 For Tax Year: 2025 Seller's Annual Property Tax: 13800 Tax Year: 2024 Homestead %: 0 Spec Assessment & Ty: NOR Zoning: 201 Commercial Tax ID #: 412207305052 and 053

Remarks & Misc

Public Remarks: This is a rare opportunity for the smaller investor or investment group to own a solid 16-unit (2 building) apartment complex in desirable Gaines Township (lower millage rates than Kentwood or Wyoming). Units include five-1 bedroom units and eleven 2-bedroom units, a laundry room in each building, plus two 8-car carports and 12 more open air parking spaces. This is a one owner (seller bought from builder in 1985) - seller have enjoyed this investment for 40 years but ready to turn it over to younger buyers and then go sit in the sun. Rent has been kept below market for many long-term tenants. All units have separate heat and electric, owner pays for gas and electric in laundry room. Units are in a variety of updated conditions; some units have been recently updated while a few could use freshing up. Convenient to US 131 via 76th St. Seller will sell as a package, or is also willing to split the buildings into two properties (each building has its own parcel number and legal Legal: Lots 266, 267, 268, 269, 270, 271, 272, 273, 274, 275, 276 Fontanelle Gardens Sec 7T5N, R11W, Gaines Township

Lot Description

Level: 1

Income and Expenses

Annual Insurance: 5200 Annual Mgmt. Fees: 7700 Annual Utilities: 2900 Gross Op. Inc.: 180000 Net Operating Income: 73000 Operating Expense: 107000

Street Type

Paved: 1

Util Avail at Street

None: 1

Utilities Attached

Cable Connected: 1 Electricity Connected: 1 Natural Gas Connected: 1 Phone Connected: 1

Sewer

Public Sewer: 1

Water

Public Water: 1

Terms Available

Cash: 1 Conventional: 1

Mineral Rights

Unknown: 1

Laundry Features

Laundry Room: 1

Exterior Material

Brick: 1

Roofing

Composition: 1

Heat Source

Natural Gas: 1

Sale Conditions

None: 1

Heat Type

Forced Air: 1

Air Conditioning

Wall Unit(s): 1

Access Feat

Accessibility Features: Yes

Accessibility Feat

No Step Entrance: 1

Tenant Pays

Electric: 1 Gas: 1

Driveway

Asphalt: 1

Substructure

Slab: 1

Extras

Carports: 1 Laundry Facility: 1 Sep Electric Meter: 1 Sep Gas Meter: 1

Owner Pays

Sewer: 1 Trash Collection: 1 Water: 1

Unit 1

Unit Description: 2bd, 1bth SqFt: 650 Occupied: Yes Monthly Rent: 880 Bedrooms: 2 Bathrooms: 1 Full Baths: 1 A/C Unit: 1 Carport: 1 Deck/Patio: 1 Dishwasher: 1 Range Oven: 1 Refrigerator: 1 Sep. Heat System: 1

Unit 2

Unit Description: 2bd, 1bth SqFt: 650 Occupied: Yes Monthly Rent: 1125 Bedrooms: 2 Bathrooms: 1 Full Baths: 1 A/C Unit: 1 Carport: 1 Deck/Patio: 1 Dishwasher: 1 Garb Disp: 1 Range/Oven: 1 Refrigerator: 1 Sep. Heat System: 1

Unit 3

Unit Description: 1 bd, 1 bth SqFt: 650 Occupied: Yes Monthly Rent: 1095 Bedrooms: 1 Bathrooms: 1 Full Baths: 1 Range/Oven: 1 A/C Unit: 1 Carport: 1 Deck/Patio: 1 Dishwasher: 1 Garb Disp: 1 Refrigerator: 1 Sep. Heat System: 1

Unit 4

Unit Description: 2 bd, 1 bth SqFt: 650 Occupied: Yes Monthly Rent: 1095 Bedrooms: 2 Bathrooms: 1 Full Baths: 1 A/C Unit: 1 Carport: 1 Deck/Patio: 1 Dishwasher: 1 Garb Disp: 1 Range/Oven: 1 Refrigerator: 1 Sep. Heat System: 1

Unit 5

Unit Description: 2 bd, 1 bth SqFt: 650 Occupied: Yes Monthly Rent: 900 Bedrooms: 2 Bathrooms: 1 Full Baths: 1 A/C Unit: 1 Carport: 1 Deck/Patio: 1 Dishwasher: 1 Garb Disp: 1 Range/Oven: 1 Refrigerator: 1 Sep. Heat System: 1

Unit 6

Unit Description: 2 bd, 1 bth SqFt: 650 Occupied: Yes Monthly Rent: 1095 Bedrooms: 2 Bathrooms: 1 Full Baths: 1 A/C Unit: 1 Carport: 1 Deck/Patio: 1 Dishwasher: 1 Garb Disp: 1 Range/Oven: 1 Refrigerator: 1 Sep. Heat System: 1

Unit 7

Unit Description: 2 bd, 1 bth SqFt: 650 Occupied: Yes Sep. Heat System: 1 Carport: 1 Bedrooms: 2 Bathrooms: 1 Full Baths: 1 Deck/Patio: 1 Dishwasher: 1 Garb Disp: 1 Refrigerator: 1 Monthly Rent: 925 Range/Oven: 1

Unit 8

Unit Description: 2 bd, 1 bth SqFt: 650 Occupied: Yes Monthly Rent: 1095 Bedrooms: 2 Bathrooms: 1 Full Baths: 1 A/C Unit: 1 Carport: 1 Deck/Patio: 1 Dishwasher: 1 Garb Disp: 1 Range/Oven: 1 Refrigerator: 1 Sep. Heat System: 1

Unit 9

Unit Description: 1 bd, 1 bth SqFt: 650 Occupied: Yes Monthly Rent: 995 Bedrooms: 1 Bathrooms: 1 Full Baths: 1 A/C Unit: 1 Carport: 1 Deck/Patio: 1 Dishwasher: 1 Garb Disp: 1 Range/Oven: 1 Refrigerator: 1 Sep. Heat System: 1

Unit 10

Unit Description: 1 bd, 1 bth SqFt: 650 Occupied: Yes Monthly Rent: 1021 Bedrooms: 1 Bathrooms: 1 Full Baths: 1 Carport: 1 Deck/Patio: 1 A/C Unit: 1 Dishwasher: 1 Garb Disp: 1 Range/Oven: 1 Refriderator: 1 Sep. Heat System: 1

Unit 11

Unit Description: 2 bd, 1 bth SqFt: 650 Occupied: Yes Monthly Rent: 995 Bedrooms: 2 Bathrooms: 1 Full Baths: 1 A/C Unit: 1 Carport: 1 Deck/Patio: 1 Dishwasher: 1 Garb Disp: 1 Range/Oven: 1 Refriderator: 1 Sep. Heat System: 1

Unit 12

Unit Description: 2 bd, 1 bth SqFt: 650 Occupied: Yes Monthly Rent: 900 Bedrooms: 2 Bathrooms: 1 Full Baths: 1 A/C Unit: 1 Carport: 1 Deck/Patio: 1 Dishwasher: 1 Garb Disp: 1 Range/Oven: 1 Refriderator: 1 Sep. Heat System: 1

Possession

Close Of Escrow: 1

Location Property Info

County: Kent Street #: 116 and146 Street Name: Coleman Suffix: Street Post Direction: SE State: MI Zip Code: 49548 Area: Grand Rapids - G

OfficeContract Info

Status: Pending Current Price: $1,999,900 List Price: $1,999,900 Listing Date: 2025-10-08

Remarks Misc

Directions: East off 7400 Block of S. Division

Status Change Info

Under Contract Date: 2025-10-22

Property Features

Laundry Features: Laundry Room Accessibility Feat: No Step Entrance Exterior Material: Brick Roofing: Composition Substructure: Slab Lot Description: Level Sewer: Public Sewer Water: Public Water Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected Util Avail at Street: None Extras: Carports; Laundry Facility; Sep Electric Meter; Sep Gas Meter Owner Pays: Sewer; Trash Collection; Water Tenant Pays: Electric; Gas Heat Source: Natural Gas Heat Type: Forced Air Air Conditioning: Wall Unit(s) Driveway: Asphalt Street Type: Paved Mineral Rights: Unknown Terms Available: Cash; Conventional Possession: Close Of Escrow Sale Conditions: None Unit 1: A/C Unit; Carport; Deck/Patio; Dishwasher; Range Oven; Refrigerator; Sep. Heat System Unit 2: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refrigerator; Sep. Heat System Unit 3: Range/Oven; A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Refrigerator; Sep. Heat System Unit 4: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refrigerator; Sep. Heat System Unit 5: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refrigerator; Sep. Heat System Unit 6: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refrigerator; Sep. Heat System Unit 7: Sep. Heat System; Carport; Deck/Patio; Dishwasher; Garb Disp; Refrigerator; Range/Oven Unit 8: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refrigerator; Sep. Heat System Unit 9: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refrigerator; Sep. Heat System Unit 10: Carport; Deck/Patio; A/C Unit; Dishwasher; Garb Disp; Range/Oven; Refriderator; Sep. Heat System Unit 11: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refriderator; Sep. Heat System Unit 12: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refriderator; Sep. Heat System

Documents

Listing Office: RE/MAX of Grand Rapids (Stndl)
Listing Agent: Dwight J Berens
IDX
Last Updated: October - 24 - 2025
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