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116 and146 Coleman ST SE Grand Rapids, MI 49548
1 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 65025051684
Year Built 1984
Lot Size 1 Sqft
Property Sub-Type MultiFamily
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 legaldescription. All units are between 600 and 650 square feet of living space. See attached documents for descriptions of all 16 units. Check and compare, nothing like it in Western Michigan.
Location
State MI
County Kent
Area Area41221Gainestwp
Interior
Heating ForcedAir, NaturalGas
Cooling WallUnits
Laundry CommonArea, LaundryRoom
Exterior
Parking Features Asphalt, Carport
Utilities Available CableConnected, ElectricityConnected, NaturalGasConnected, PhoneConnected
View Y/N No
Roof Type Composition
Building
Lot Description Level
Foundation Slab
Sewer PublicSewer
Water Public
Schools
School District Kentwood
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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Listed by Dwight J Berens of RE/MAX of Grand Rapids (Stndl)
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