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Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

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522 Michigan St NE , Grand Rapids, MI 49503
$1,095,000
Est. Payment: $2,433.33/mo
0 Bed
0 Bath
0 Sqft
Status: Active Contingent | Days on site: 15
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g064561 - gdolc3100
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from , its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
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House Description

DO NOT WALK PROPERTY WITHOUT PRIOR APPROVAL. 8 Unit Income-producing Grand Rapids investment opportunity featuring TWO well-maintained multi-unit buildings in a prime location. Just 1 block from GVSU, 3 blocks from Corewell Health, near the Grand Rapids Medical Mile, with easy highway access and walking distance to countless conveniences. Together, the properties currently generate $8,950/month with additional rent growth potential. The 6-unit building offers on-site parking for 10 cars, an on-demand water heater and a 6-year City of Grand Rapids rental certification. Landlord pays all utilities. Long-term tenants reflect an owner who values and cares for residents. Units include 2BR, 1BR, studio/1BR loft, studio, 1BR and 1BR. The second building at 526 Michigan St. features two 3BR units, updated PEX plumbing and two electrical panels. One tenant has been in place for over 30 years. Excellent opportunity for established cash flow and upside potential.
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Highlights

Listed by Vito (Jr.) E Dolci , 616-791-1010 Five Star Real Estate (Walker) , 616-791-1010.

Property Type

Multi-Family
Lot/Acreage
0.18

Year Built

1890

County

Kent

 School District

Grand Rapids

Listing ID

26042669

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:0
  • ▪ Bathrooms:0
  • ▪ Full Bathrooms:
Basement:Full

Exterior Features

Lot:Sidewalk
Garage Capacity:12
Sewer:Public Sewer
Principal Interest
$2,433
Taxes
$566

Home Price

$1,095,000

Loan Details

30 yrs
%

Down Payment

20%
$219,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$2,433.33

Principal

Taxes

Principal Taxes HOA Total
Monthly $2,433.33 $566.25 $0.00 $2,999.58
Yearly $29,200.00 $6,795.00 $0.00 $35,995.00
Total $876,000.00 $203,850.00 $0.00 $1,079,850.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Grand Rapids, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.