King of the Hill

Multi-Family for Sale
Sale Pending
Also listed as Retail-Commercial
Catylist Listing ID: 30639549
Property Subtypes: Low-Rise/Garden, General
Status: Pending
Number of Units: 11 Units
Building Size (RSF): 6,000 SF
Gross Land Area: 0.37 Acres
Sale Price: $899,900
Unit Price: $81,809.09 Per Unit
Ceiling: 9 ft.
Property Use Type: Investment
Sale Terms: Cash to Seller
Average Occupancy Rate: 100
Last Updated: 9/9/2020

Overview / Comments

King of the Hill! 11 Unit Heritage Hill Investment Property for sale for the first time in nearly 40 years! Originally built and owned my distinguished GR native Samuel Fuller. This grand property features all 1 bed 1 bath apartments which are fully occupied with very low vacancies. Each unit is slightly unique, but are overall very similar and good sized! Up to 13 off street parking spaces in an area where parking is at an utmost premium. Large stately corner lot blocks from Mercy Health, Downtown Grand Rapids and loads of developments. Boiler, Electrical, Roof, Water/Sewer Line and Chimneys all replaced/upgraded in the last 15 years or less. Exterior paint is flawless, multiple entrances, and onsite coin op W/D. Contact listing agent for rental specifics and operating expenses breakdown.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: Central Business District
Taxing Authority: City of Grand Rapids
Tax ID/APN: 41-14-30-403-001
Zoning: R-3
Percent Occupied: 100%
Property Located Between: Madison and Washington
Site Description: Lot 1484 Steinmann's Assessors S Plat #51.
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 3
Year Built: 1878
Construction/Siding: Stucco
Exterior Description: Brick and stucco exterior
Parking Type: Structure, Surface
Parking Description: 4 garage spaces 9 surface spaces
Total Parking Spaces: 13
Laundry: Shared
Sprinklers: None
Heat Type: Steam
Heat Source: Radiant
Fuel: Gas
Zoning Description: Heritage Hill Multifamily
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: LOT 1484* STEINMANN S ASSESSOR S PLAT NO 51

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,221 156,976 294,945
Median Age: 28.35 31.21 33.86
Households: 11,137 58,379 113,191


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