522 Michigan Street NE, Grand Rapids, MI 49503
- $1,095,000
- List Price
- $1,095,000
- Days on Market
- 1
- MLS#
- 26042669
- Status
- ACTIVE
- Type
- Multifamily
Property Description
DO NOT WALK PROPERTY WITHOUT PRIOR APPROVAL. 8 Unit Income-producing Grand Rapids investment opportunity featuring TWO well-maintained multi-unit buildings in a prime location. Just 1 block from GVSU, 3 blocks from Corewell Health, near the Grand Rapids Medical Mile, with easy highway access and walking distance to countless conveniences. Together, the properties currently generate $8,950/month with additional rent growth potential. The 6-unit building offers on-site parking for 10 cars, an on-demand water heater and a 6-year City of Grand Rapids rental certification. Landlord pays all utilities. Long-term tenants reflect an owner who values and cares for residents. Units include 2BR, 1BR, studio/1BR loft, studio, 1BR and 1BR. The second building at 526 Michigan St. features two 3BR units, updated PEX plumbing and two electrical panels. One tenant has been in place for over 30 years. Excellent opportunity for established cash flow and upside potential.
Additional Information
- Owner Pays
- Electricity, Gas, Sewer, Trash Collection, Water
- Taxes
- $6,795
- Acres
- 0.26
- Basement
- Full
- Heating
- Radiant
- School District
- Grand Rapids
- Sewer
- Public Sewer
- Tenant Pays
- None
- Total Parking Spaces
- 12
- Utilities
- Cable Connected, Natural Gas Connected, Phone Connected, Electricity Connected, Cable Available, Electricity Available, Natural Gas Available, Storm Sewer, Phone Available
- Water
- Public Water
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Listing courtesy of Listing Agent: Vito (Jr.) E Dolci from Listing Office: Five Star Real Estate (Walker).
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