$349,900
Grand Rapids, MI 49505
MLS# 26015647
1 / 39
Property Description
4-unit value-add opportunity in Riverside Gardens with immediate upside for the next owner. Strong rental location, long-term ownership, and flexible unit mix including (2) 2-bedroom units, (1) 1-bedroom unit, and (1) studio, all with 1 bath. Two units currently occupied, all month-to-month. Largest 2-bedroom unit is vacant with new carpet, creating an immediate opportunity for lease-up, owner occupancy, or renovation. Current rents have been conservatively managed at approximately $800-$1,100/month, previously totally $4,000/month,, while leaving room for increased income through improved management and updates. Property includes 1 forced air furnace, 3 wall furnaces, 4 gas meters, 4 water heaters, and 2 electrical panels. Primary roof replaced approximately 7-8 years ago. Seller recently secured 6yr rental certification. Detached garage needs re-work but good potential for covered tenant parking and storage. Strong fit for value add, long term investors. Top notch location!
Details
Maps
Location & Property Info
Cross Streets: 3 mile and coit
Property Sub-Type: 2 to 4 Units
Municipality: City of Grand Rapids
Subdivision: Riverside Gardens
Ownership Type: Private Owned
Office/Contract Info
Auction or For Sale: For Sale
General Property Info
New Construction: No
Lot Dimensions: IRR
Road Frontage: 220
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2032-03-14
Waterfront: No
Basement: Yes
Total # Units: 4
# of Diff Unit Floor Plans: 4
Total # Bldgs: 2
Total Parking Spaces: 5
School District: Grand Rapids
Lot Size Units: Acres
Lot Size Square Feet: 10019
Lot Acres: 0.23
Year Built: 1900
Tax Info
Taxable Value: 75510
SEV: 193100
For Tax Year: 2025
Seller's Annual Property Tax: 3898.92
Tax Year: 2025
Homestead %: 0
Spec Assessment & Ty: NA
Zoning: Residential
Parcel #: 41-14-06-457-018
Remarks & Misc
Public Remarks: 4-unit value-add opportunity in Riverside Gardens with immediate upside for the next owner. Strong rental location, long-term ownership, and flexible unit mix including (2) 2-bedroom units, (1) 1-bedroom unit, and (1) studio, all with 1 bath. Two units currently occupied, all month-to-month. Largest 2-bedroom unit is vacant with new carpet, creating an immediate opportunity for lease-up, owner occupancy, or renovation. Current rents have been conservatively managed at approximately $800-$1,100/month, previously totally $4,000/month,, while leaving room for increased income through improved management and updates. Property includes 1 forced air furnace, 3 wall furnaces, 4 gas meters, 4 water heaters, and 2 electrical panels. Primary roof replaced approximately 7-8 years ago. Seller recently secured 6yr rental certification. Detached garage needs re-work but good potential for covered tenant parking and storage. Strong fit for value add, long term investors. Top notch location!
Legal: PT SE1/4 COM AT NE COR COIT AVE & 3 MILE RD TH NLY ON E LINE COIT AVE 110 FT TH E PARL 3 MILE RD 84 FT TH SLY 104.23 FT TO A PT ON N LINE OF 3 MILE RD 110 FT E OF BEG TH W TO BEG* SEC 6 T7N R11W* 0.23 A
Lot Description
Corner Lot: 1
Street Type
Paved: 1
Public: 1
Util Avail at Street
Cable Available: 1
Electricity Available: 1
High Speed Internet: 1
Natural Gas Available: 1
Phone Available: 1
Public Sewer: 1
Public Water: 1
Storm Sewer: 1
Utilities Attached
Cable Connected: 1
Electricity Connected: 1
Natural Gas Connected: 1
Phone Connected: 1
Sewer
Public Sewer: 1
Water
Private 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
Wall Furnace: 1
Air Conditioning
Window Unit(s): 1
Access Feat
Accessibility Features: No
Tenant Pays
None: 1
Driveway
Asphalt: 1
Concrete: 1
Substructure
Full: 1
Extras
Garages: 1
Owner Pays
None: 1
Unit 1
Unit #: 1
Unit Description: Unit 1
SqFt: 1100
Occupied: No
Monthly Rent: 1100
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 2
Unit #: 2
Unit Description: Unit 2
SqFt: 350
Occupied: Yes
Monthly Rent: 800
Bathrooms: 1
Full Baths: 1
Unit 3
Unit #: 3
Unit Description: Unit 3
SqFt: 825
Occupied: No
Monthly Rent: 1000
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 4
Unit #: 4
Unit Description: Unit 4
SqFt: 575
Occupied: Yes
Monthly Rent: 1000
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Possession
Close Of Escrow: 1
Subject To Tenant Rights: 1
Location Property Info
County: Kent
Street #: 501
Street Name: 3 Mile
Suffix: Road
State: MI
Zip Code: 49505
OfficeContract Info
Status: Active
Current Price: $349,900
List Price: $349,900
Listing Date: 2026-04-15
Remarks Misc
Directions: Head north on Coit ave until you get to 3 Mile Rd. Property is on the right corner.
Property Features
Exterior Material: Vinyl Siding
Roofing: Composition
Substructure: Full
Lot Description: Corner Lot
Water: Private Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at Street: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Phone Available; Public Sewer; Public Water; Storm Sewer
Extras: Garages
Owner Pays: None
Tenant Pays: None
Heat Type: Forced Air; Wall Furnace
Air Conditioning: Window Unit(s)
Driveway: Asphalt; Concrete
Street Type: Paved
Mineral Rights: Unknown
Terms Available: Cash; Conventional
Possession: Close Of Escrow; Subject To Tenant Rights
Sale Conditions: None
Listing Office: Five Star Real Estate (Eastown)
Listing Agent: Justin W Moorehead
Last Updated: April - 16 - 2026
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