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$1,999,900
Est. payment /mo
1.2 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 70498334
Year Built 1984
Annual Tax Amount $13,800
Tax Year 2024
Lot Size 1.200 Acres
Acres 1.2
Lot Dimensions 435x120x435x120
Property Sub-Type Multi-Family
Property Description
This is a rare opportunity for the smaller investor or investment group to own a solid 16-unit (2 building) apartment complex in desirable Gaines Township (lower millage rates than Kentwood or Wyoming). Units include five-1 bedroom units and eleven 2-bedroom units, a laundry room in each building, plus two 8-car carports and 12 more open air parking spaces. This is a one owner (seller bought from builder in 1985) - seller have enjoyed this investment for 40 years but ready to turn it over to younger buyers and then go sit in the sun. Rent has been kept below market for many long-term tenants. All units have separate heat and electric, owner pays for gas and electric in laundry room. Units are in a variety of updated conditions; some units have been recently updated while a few could use freshing up. Convenient to US 131 via 76th St. Seller will sell as a package, or is also willing to split the buildings into two properties (each building has its own parcel number and legal
Location
State MI
County Kent
Area Gaines Twp (41010)
Zoning Commercial
Interior
Heating Forced Air
Exterior
Exterior Feature Brick
Parking Features Carport
Amenities Available Laundry Facility
Building
Foundation Slab
Structure Type Brick
Schools
School District Kentwood Public Schools
Others
Energy Description Natural Gas
Financing Cash,Conventional
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Listed by RE/MAX of Grand Rapids (Stndl)
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