$912,500
Grand Rapids, MI 49548
MLS# 25051710
Status: Sold
1 / 25
Property Description
Great opportunity for medium size investor or investment group, this solid brick building includes seven 2-bedroom units and one 1-bedroom unit, coin operated laundry, and two furnace rooms. Tenant pays their own heating/cooling and electrical; landlord pays for gas/electric in the common areas. There is an 8-car carport plus open air parking for 8 more vehicles. We also have listed an 8-unit building to the east (146 Coleman), which is also available for $999,950. This is a one owner building purchased 40 years ago and has been a great investment. Low taxes, low regulation Gaines Township is also a bonus. Call L.S. Dwight Berens only for more information. All offers due Fri 10/17 5:00 pm
Details
Maps
Documents
Location Property Info
County: Kent
Street #: 116
Street Name: Coleman
Suffix: Street
Post Direction: SE
State: MI
Zip Code: 49548
Area: Grand Rapids - G
OfficeContract Info
Status: Sold
Current Price: $912,500
List Price: $999,950
Listing Date: 2025-10-08
General Property Info
Lot Measurement: Acres
Lot Square Footage: 25200
Lot Acres: 0.58
Lot Dimensions: 210x120x210x120
Year Built: 1984
New Construction: No
Cert of Compliance: No
Road Frontage: 210
Total # Units: 8
# of Diff Unit Floor Plans: 2
Total # Bldgs: 1
Total Approx. SqFt All Bldgs: 5900
Total Parking Spaces: 12
Waterfront: No
School District: Kentwood
Tax Info
Tax ID #: 41-22-07-305-052
Taxable Value: 147639
SEV: 229500
For Tax Year: 2025
Seller's Annual Property Tax: 6800
Tax Year: 2025
Spec Assessment & Ty: NOR
Zoning: 201 Commercial
Remarks Misc
Directions: East off 7400 block of S Division
Status Change Info
Under Contract Date: 2025-10-22
Sold Date: 2026-01-02
Sold Price: $912,500
Sold Price/SqFt: 154.66
Access Feat
Accessibility Features: Yes
Income and Expenses
Annual Insurance: 2000
Annual Mgmt. Fees: 3800
Annual Utilities: 1450
Gross Op. Inc.: 90000
Net Operating Income: 37000
Operating Expense: 53500
Unit 1
Unit Description: 2 bd 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 880
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 2
Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1125
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 3
Unit Description: 1 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1095
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 4
Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1095
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 5
Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 900
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 6
Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1095
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 7
Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Monthly Rent: 925
Unit 8
Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1095
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
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; Water
Tenant Pays: Electric; Gas
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: Wall Unit(s)
Driveway: Asphalt
Street Type: Paved; Public
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
Survey 
Listing Office: RE/MAX of Grand Rapids (Stndl)
Listing Agent: Dwight Berens
Last Updated: January - 24 - 2026
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