MULTI_FAMILY - Grand Rapids, MI
Great investment for a medium investor or small investment group, this building at 146 Coleman includes four 1-bedroom units and four 2-bedroom units, all approximately 650 square feet of living space, plus an 8-car carport and open air parking for 10 more. This can also be combined with 116 Coleman St, which is to the west for a total of $1,999,950. Very quiet neighborhood in low taxes and low regulation area Gaines Township, and convenient to US 131. Many long term tenants who are paying rents that are substantially below market. Units average about $1,000 per month but potentially could be increased 10-20% with more aggressive property management. Tenants pay their own heat and electric. This is a one-owner build owned for 40 years by a bunch of 70 year olds who want to just sit in the sun. Offers due Fri 10/17 at 5:00 pm.
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