116 and146 Coleman SE Street new Save Request In-Person Tour Request Virtual Tour
Grand Rapids,MI 49548
Key Details
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Active
Purchase Type For Sale
Municipality Gaines Twp
MLS Listing ID 25051684
Year Built 1984
Annual Tax Amount $13,800
Tax Year 2025
Lot Size 1.198 Acres
Acres 1.2
Lot Dimensions 435x120x435x120
Property Sub-Type 5+ Units
Source Michigan Regional Information Center (MichRIC)
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 description. 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. description. 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 Grand Rapids - G
Direction East off 7400 Block of S. Division
Rooms
Basement Slab
Interior
Heating Forced Air
Cooling Wall Unit(s)
Laundry Laundry Room
Exterior
Parking Features Asphalt,Driveway
Utilities Available Phone Connected,Natural Gas Connected,Electricity Connected,Cable Connected
View Y/N No
Roof Type Composition
Street Surface Paved
Handicap Access No Step Entrance
Total Parking Spaces 26
Building
Lot Description Level
Structure Type Brick
New Construction No
Schools
School District Kentwood
Others
Tax ID 412207305052 and 053
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional