522 Michigan Street NE
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.
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,095,000 |
| No. of Units: | 8 |
| Year Built: | 1890 |
| Opportunity Zone: | No |
| Price per unit: | $136,875 |
| Property Website | Click Here |
| Number of Bedrooms: | 12 |
| Number of Bathrooms: | 0 |
ID: 3yd-GRARMI-26042669
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