$385,000
Grand Rapids, MI 49503
MLS# 24037018
Status: Sold
1 / 30
Property Description
Great investment opportunity to own a duplex and single family house right next to each other on two separate parcels. All three units are currently rented month-to-month for $4,450 per month. Electric and gas are individually metered for each unit. Water/sewer is shared for all three units. Certificate of compliance issued by the city until 9/23/2026. Take advantage of the cash flow already established and the possibility to sell the properties separately in the future. Or live in one unit and have the other two units pay the mortgage. 1021 is a 4 bedroom, 1 ½ bathroom single family. 1023 is a upper/lower duplex, each with 2 bedrooms and 1 bathroom. Both buildings have new roofs and attic venting in 2022. Tax information is for both parcels - 41-13-36-380-025 and 41-13-36-380-026.
Details
Maps
Location & Property Info
Cross Streets: Hall St and M.L.K. Jr St
Property Sub-Type: 2 to 4 Units
Area: Grand Rapids - G
Municipality: City of Grand Rapids
Ownership Type: Private Owned
Office/Contract Info
Auction or For Sale: For Sale
General Property Info
New Construction: No
Lot Dimensions: 40x115
Road Frontage: 40
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2026-09-23
Waterfront: No
Basement: Yes
Total # Units: 3
# of Diff Unit Floor Plans: 3
Total # Bldgs: 2
Total Parking Spaces: 2
School District: Grand Rapids
Lot Measurement: Acres
Lot Square Footage: 4600
Lot Acres: 0.11
Year Built: 1900
Tax Info
Taxable Value: 107205
SEV: 125000
For Tax Year: 2024
Seller's Annual Property Tax: 5315
Tax Year: 2023
Homestead %: 0
Spec Assessment & Ty: None Known
Zoning: Residential
Tax ID #: 41-13-36-380-026
Remarks & Misc
Public Remarks: Great investment opportunity to own a duplex and single family house right next to each other on two separate parcels. All three units are currently rented month-to-month for $4,450 per month. Electric and gas are individually metered for each unit. Water/sewer is shared for all three units. Certificate of compliance issued by the city until 9/23/2026. Take advantage of the cash flow already established and the possibility to sell the properties separately in the future. Or live in one unit and have the other two units pay the mortgage. 1021 is a 4 bedroom, 1 ½ bathroom single family. 1023 is a upper/lower duplex, each with 2 bedrooms and 1 bathroom. Both buildings have new roofs and attic venting in 2022. Tax information is for both parcels - 41-13-36-380-025 and 41-13-36-380-026.
Legal: E LY 70 FT OF LOT 10 BLK 2* CAULFIELD S SUBDIVISION* OF CAULFIELD S SECOND ADDITION and LOT 10 BLK 2 EXCEPT E LY 70 FT THEREOF* CAULFIELD S SUBDIVISION* OF CAULFIELD S SECOND ADDITION
Waterfront Options
Water Access Y/N: No
Util Avail at Street
None: 1
Utilities Attached
Electricity Connected: 1
Natural Gas Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
Mineral Rights
Unknown: 1
Exterior Material
Vinyl Siding: 1
Roofing
Composition: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Forced Air: 1
Access Feat
Accessibility Features: No
Tenant Pays
Electric: 1
Gas: 1
Substructure
Full: 1
Extras
Sep Electric Meter: 1
Sep Gas Meter: 1
Owner Pays
Sewer: 1
Water: 1
Unit 1
Unit #: 1
Unit Description: 1023 Lower
SqFt: 858
Occupied: Yes
Monthly Rent: 1350
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Range Oven: 1
Refrigerator: 1
Sep. Heat System: 1
Unit 2
Unit #: 2
Unit Description: 1023 Upper
SqFt: 858
Occupied: Yes
Monthly Rent: 1600
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Range/Oven: 1
Refrigerator: 1
Sep. Heat System: 1
Unit 3
Unit #: 3
Unit Description: 1021
SqFt: 1176
Occupied: Yes
Monthly Rent: 1500
Bedrooms: 4
Bathrooms: 2
Full Baths: 1
Half Baths: 1
Range/Oven: 1
Refrigerator: 1
Sep. Heat System: 1
Possession
Subject To Tenant Rights: 1
Location Property Info
County: Kent
Street #: 1021-1023
Street Name: Sheridan
Suffix: Avenue
Post Direction: SW
State: MI
Zip Code: 49503
OfficeContract Info
Status: Sold
Current Price: $385,000
List Price: $400,000
Listing Date: 2024-07-18
Remarks Misc
Directions: From 131, take Hall St exit, West on Hall St, North on Sheridan to home
Status Change Info
Under Contract Date: 2024-08-21
Sold Date: 2024-09-25
Sold Price: $385,000
Property Features
Exterior Material: Vinyl Siding
Roofing: Composition
Substructure: Full
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected; Natural Gas Connected
Util Avail at Street: None
Extras: Sep Electric Meter; Sep Gas Meter
Owner Pays: Sewer; Water
Tenant Pays: Electric; Gas
Heat Source: Natural Gas
Heat Type: Forced Air
Mineral Rights: Unknown
Terms Available: Cash; Conventional
Possession: Subject To Tenant Rights
Sale Conditions: None
Unit 1: Range Oven; Refrigerator; Sep. Heat System
Unit 2: Range/Oven; Refrigerator; Sep. Heat System
Unit 3: Range/Oven; Refrigerator; Sep. Heat System
Listing Office: Charter Properties
Listing Agent: Cassandra Beyer
Last Updated: May - 04 - 2026
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