$ 349,900
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$349,900
Price -
0
Bed -
0
Bath -
0
SqFt
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About the Listing 77919 - MR9616
4-unit value-add opportunity in Riverside Gardens with immediate upside for the next owner. Strong rental location, long-term ownership, and flexible unit mix including (2) 2-bedroom units, (1) 1-bedroom unit, and (1) studio, all with 1 bath. Two units currently occupied, all month-to-month. Largest 2-bedroom unit is vacant with new carpet, creating an immediate opportunity for lease-up, owner occupancy, or renovation. Current rents have been conservatively managed at approximately $800-$1,100/month, previously totally $4,000/month,, while leaving room for increased income through improved management and updates. Property includes 1 forced air furnace, 3 wall furnaces, 4 gas meters, 4 water heaters, and 2 electrical panels. Primary roof replaced approximately 7-8 years ago. Seller recently secured 6yr rental certification. Detached garage needs re-work but good potential for covered tenant parking and storage. Strong fit for value add, long term investors. Top notch location!
Listing Highlights
Status
Pending
Days on Site
17
Property Type
Multi-Family
MLS ®
70525340
Year Built
1900
Total Square Footage
0
Lot/Acreage
0.23
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating: Wall Heat,Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: IRR
- Zoning: Residential
- Roof:
- Others:
- Sewer:
- Parking Features: Additional Garage(s)
Financial Details
- Tax Amount: $3,899
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
501 3 Mile Grand Rapids, MI 49505
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