$912,500
Grand Rapids, MI 49548
MLS# 25051741
Status: Sold
1 / 25
Property Description
Great investment for a medium investor or small investment group, this building at 146 Coleman includes four 1-bedroom units and four 2-bedroom units, all approximately 650 square feet of living space, plus an 8-car carport and open air parking for 10 more. This can also be combined with 116 Coleman St, which is to the west for a total of $1,999,950. Very quiet neighborhood in low taxes and low regulation area Gaines Township, and convenient to US 131. Many long term tenants who are paying rents that are substantially below market. Units average about $1,000 per month but potentially could be increased 10-20% with more aggressive property management. Tenants pay their own heat and electric. This is a one-owner build owned for 40 years by a bunch of 70 year olds who want to just sit in the sun. Offers due Fri 10/17 at 5:00 pm.
Details
Maps
Documents
Location Property Info
County: Kent
Street #: 146
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: 28200
Lot Acres: 0.65
Lot Dimensions: 235x120
Year Built: 1984
New Construction: No
Cert of Compliance: No
Road Frontage: 235
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 #: 41-22-07-305-053
Taxable Value: 153400
SEV: 229500
For Tax Year: 2025
Seller's Annual Property Tax: 7041
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: No
Income and Expenses
Annual Insurance: 2600
Annual Mgmt. Fees: 3800
Annual Utilities: 1450
Gross Op. Inc.: 90000
Net Operating Income: 37000
Operating Expense: 53500
Unit 1
Unit Description: 1 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 995
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 2
Unit Description: 1 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1021
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 3
Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 995
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 4
Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 900
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 5
Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: No
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: 1 bd, 1 bth
SqFt: 650
Occupied: Yes
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Monthly Rent: 695
Unit 8
Unit Description: 1 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1095
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Property Features
Laundry Features: Laundry Room
Exterior Material: Brick
Roofing: Composition
Substructure: Slab
Lot Description: Level
Sewer: Public Sewer
Water: Public Water
Utilities Attached: 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; Paved
Street Type: Paved; Public
Mineral Rights: Unknown
Terms Available: Cash; Conventional
Possession: Close Of Escrow
Sale Conditions: None
Unit 1: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; 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; 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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