1046 1048 Lafayette Avenue SE, Grand Rapids, MI 49507 (MLS# 26022546)

1046 1048 Lafayette Avenue SE, Grand Rapids, MI 49507

$357,000

Property Type: Multi Family Lot Size (sq. ft.): 4,487 Status: Sold

Current Price: $357,000 List Date: 5/15/2026 Last Modified: 6/30/2026

Overview

Description

Turnkey four-unit investment opportunity in the SE side of Grand Rapids. All four 2-bedroom 1-bath units feature many recent updates including remodeled kitchens and baths, updated flooring, and plumbing improvements. Separate gas and electric meters help streamline management expenses. The new upper-level deck adds additional outdoor space attractive to renters. 2 of the 4 furnaces have been replaced in the last 3 years. Excellent location near downtown Grand Rapids, medical campuses, dining, entertainment, and major highway access.

Listing Details MLS# 26022546

Location Property Info

County: Kent
Street #: 1046
Street Name: Lafayette
Suffix: Avenue
Post Direction: SE
State: MI
Zip Code: 49507
Zip (4): 1107

General Property Info

Lot Measurement: Acres
Lot Square Footage: 4487
Lot Acres: 0.1
Lot Dimensions: 41 x 109
Year Built: 1900
New Construction: No
Financial Available: Yes
Cert of Compliance: Yes
Road Frontage: 41
Total # Units: 4
# of Diff Unit Floor Plans: 4
Total # Bldgs: Yes
Total Approx. SqFt All Bldgs: 4392
Waterfront: No
School District: Grand Rapids
Basement: Yes
Total Parking Spaces: 0

Tax Info

Tax ID #: 41-14-31-378-012
Taxable Value: 93446
SEV: 196100
For Tax Year: 2026
Seller's Annual Property Tax: 4698.26
Tax Year: 2025
Zoning: residential
Homestead %: 0
Spec Assessment & Ty: No

Status Change Info

Under Contract Date: 2026-06-03
Sold Date: 2026-06-30
Sold Price/SqFt: 81.28

Access Feat

Accessibility Features: No

More Information

Income and Expenses

Annual Insurance: 1574
Annual Utilities: 1848.75
Gross Op. Inc.: 48360
Net Operating Income: 31656.76
Operating Expense: 16703.24

Unit 1

Unit #: 1046
Unit Description: A
SqFt: 1000
Occupied: Yes
Monthly Rent: 1025
Bathrooms: Yes
Full Baths: Yes
Deck/Patio: Yes
Range Oven: Yes
Refrigerator: Yes

Unit 2

Unit #: 1046
Unit Description: B
SqFt: 1000
Occupied: No
Monthly Rent: 1100
Bathrooms: Yes
Full Baths: Yes
Deck/Patio: Yes
Range/Oven: Yes
Refrigerator: Yes

Unit 3

Unit #: 1048
Unit Description: A
SqFt: 1000
Occupied: No
Monthly Rent: 1100
Bathrooms: Yes
Full Baths: Yes
Deck/Patio: Yes
Refrigerator: Yes
Sep. Heat System: Yes

Unit 4

Unit #: 1048
Unit Description: B
SqFt: 900
Occupied: Yes
Monthly Rent: 1100
Bathrooms: Yes
Full Baths: Yes
Deck/Patio: Yes
Range/Oven: Yes
Refrigerator: Yes

Location & Property Info

Modifier: 1048
Cross Streets: Hall and Lafayette
Property Sub-Type: 2 to 4 Units
Municipality: City of Grand Rapids

Office/Contract Info

Auction or For Sale: For Sale
List Price/SqFt: 85.38

Remarks & Misc

Public Remarks: Turnkey four-unit investment opportunity in the SE side of Grand Rapids. All four 2-bedroom 1-bath units feature many recent updates including remodeled kitchens and baths, updated flooring, and plumbing improvements. Separate gas and electric meters help streamline management expenses. The new upper-level deck adds additional outdoor space attractive to renters. 2 of the 4 furnaces have been replaced in the last 3 years. Excellent location near downtown Grand Rapids, medical campuses, dining, entertainment, and major highway access.
Legal: LOT 28* GRAFF ADDITION

Lot Description

Level: Yes
Sidewalk: Yes

Street Type

Paved: Yes
Public: Yes

Util Avail at Street

High Speed Internet: Yes
Storm Sewer: Yes

Utilities Attached

Cable Connected: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes

Sewer

Public Sewer: Yes

Water

Public Water: Yes

Terms Available

Cash: Yes
Conventional: Yes

Mineral Rights

Unknown: Yes

Laundry Features

In Unit: Yes

Exterior Material

Vinyl Siding: Yes

Roofing

Composition: Yes
Rubber: Yes

Heat Source

Natural Gas: Yes

Sale Conditions

None: Yes

Heat Type

Forced Air: Yes

Tenant Pays

Electric: Yes
Gas: Yes
Trash: Yes

Driveway

None: Yes

Substructure

Full: Yes
Walk-Out Access: Yes

Extras

Laundry Facility: Yes
Sep Electric Meter: Yes
Sep Gas Meter: Yes

Owner Pays

Sewer: Yes
Water: Yes

Possession

Close Of Escrow: Yes
Subject To Tenant Rights: Yes

Property Features

Laundry Features: In Unit Exterior Material: Vinyl Siding Roofing: Composition; Rubber Substructure: Full; Walk-Out Access Lot Description: Level; Sidewalk Sewer: Public Sewer Water: Public Water Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected Util Avail at Street: High Speed Internet; Storm Sewer Extras: Laundry Facility; Sep Electric Meter; Sep Gas Meter Owner Pays: Sewer; Water Tenant Pays: Electric; Gas; Trash Heat Source: Natural Gas Heat Type: Forced Air Driveway: None Street Type: Paved; Public Mineral Rights: Unknown Terms Available: Cash; Conventional Possession: Close Of Escrow; Subject To Tenant Rights Sale Conditions: None Unit 1: Deck/Patio; Range Oven; Refrigerator Unit 2: Deck/Patio; Range/Oven; Refrigerator Unit 3: Deck/Patio; Refrigerator; Sep. Heat System Unit 4: Deck/Patio; Range/Oven; Refrigerator

Listing Office: Keller Williams GR North

Listing Agent: Roger Ackerman

Last Updated: June - 30 - 2026

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