$318,000
$309,000
2.9%For more information regarding the value of a property, please contact us for a free consultation.
3,441 Sqft Lot
SOLD DATE : 10/12/2021
Key Details
Sold Price $318,000
Property Type Multi-Family
Sub Type 2 to 4 Units
Listing Status Sold
Purchase Type For Sale
Municipality City of Grand Rapids
MLS Listing ID 21020259
Sold Date 10/12/21
Originating Board Michigan Regional Information Center (MichRIC)
Year Built 1953
Annual Tax Amount $3,308
Tax Year 2021
Lot Size 3,441 Sqft
Acres 0.08
Property Description
Amazing Investment Opportunity! Land Contract Option: 5 Year Balloon, 6% interest rate with 10% Down. This property is a 3-Unit, mixed use that has Commercial Zoning. Unit 1 is a Retail Space that is currently ''The Feet Suite'', this business has currently been paused to allow for more flexibility for showings. The sale of this property comes with all the fixtures, furnishings and transfer of business ownership to the new owner. The Feet Suite is a profitable and very manageable business with little overhead. The updated commercial space could rent for $1,500-$2,000 per month if the new owner decided they didn't want to operate this business. Unit 2 is a turnkey rental that is currently used as an Airbnb and is fully furnished, furnishings and bookings are also included with the sale. Airbnb has had a very steady income of approx. $2,000 per month. Unit 3 is currently vacant and ready for a new tenant; this unit could easily rent for $900 to $1,000 per month. There currently aren't any leases signed for the property which leaves the options open for the new owners. Property is in the growing Creston Neighborhood and the commercial space has great visibility to traffic on Plainfield. There is a garden space that was created at the rear of the building for future tenants. Utilities are split and have been upgraded in the last couple of years, there is a basement that has an abundance of storage and units have updated appliances with dishwashers included.
Duplicate Commercial Listing: 21019296 Airbnb has had a very steady income of approx. $2,000 per month. Unit 3 is currently vacant and ready for a new tenant; this unit could easily rent for $900 to $1,000 per month. There currently aren't any leases signed for the property which leaves the options open for the new owners. Property is in the growing Creston Neighborhood and the commercial space has great visibility to traffic on Plainfield. There is a garden space that was created at the rear of the building for future tenants. Utilities are split and have been upgraded in the last couple of years, there is a basement that has an abundance of storage and units have updated appliances with dishwashers included.
Duplicate Commercial Listing: 21019296
Location
State MI
County Kent
Area Grand Rapids - G
Direction I-96 South on Plainfield. US-131, East on Leonard, North on Plainfield
Rooms
Basement Partial
Interior
Heating Wall Furnace, Forced Air, Natural Gas
Fireplaces Number 1
Exterior
Parking Features Driveway, Gravel
View Y/N No
Roof Type Composition, Rubber
Total Parking Spaces 3
Building
Sewer Public Sewer
Structure Type Brick, Vinyl Siding
New Construction No
Schools
School District Grand Rapids
Others
Tax ID 41-14-18-327-026
Acceptable Financing Cash, Conventional, Contract
Listing Terms Cash, Conventional, Contract
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