1129 Lyon Street NE, Grand Rapids, MI 49503 (MLS# 24059440)

1129 Lyon Street NE, Grand Rapids, MI 49503

$1,455,000

Property Type: Multi Family Lot Size (sq. ft.): 26,615 Status: Sold

Current Price: $1,455,000 List Date: 2/19/2025 Last Modified: 5/02/2025

Overview

Description

Now offering this solid 8-unit real estate investment opportunity in Grand Rapids, Michigan. Situated in a high-rent district and close to shopping, restaurants, highways, hospitals and more. All 8 units have been tastefully remodeled, and the property is completely turnkey. Each unit features 2 sizable bedrooms, 1 bathroom, updated kitchen and living room spaces and private laundry. Plenty of private off-street parking available. New roofs, Pella windows, A/C units and furnaces as of 2 years ago. Tenants pay all utilities except for water. Possible value-add with garden unit development in the basements. Don't miss out on this opportunity to build your rental portfolio!

Listing Details MLS# 24059440

Location Property Info

County: Kent
Street #: 1129
Street Name: Lyon
Suffix: Street
Post Direction: NE
State: MI
Zip Code: 49503
Zip (4): 3668

General Property Info

Lot Measurement: Acres
Lot Square Footage: 26615
Lot Acres: 0.61
Lot Dimensions: 110 x 243
Year Built: 1961
New Construction: No
Financial Available: Yes
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2027-03-22
Road Frontage: 110
Total # Units: 8
# of Diff Unit Floor Plans: 4
Total # Bldgs: 2
Total Approx. SqFt All Bldgs: 6272
Total Parking Spaces: 16
Waterfront: No
School District: Grand Rapids

Tax Info

Tax ID #: 41-14-29-130-031
Taxable Value: 421185
SEV: 453000
For Tax Year: 2024
Seller's Annual Property Tax: 23581.5
Tax Year: 2023
Spec Assessment & Ty: none known
Zoning: Comm Imp

Remarks Misc

Directions: Between Michigan and Fulton. West off Fuller on Lyon.

Status Change Info

Under Contract Date: 2025-03-08
Sold Date: 2025-05-02
Sold Price/SqFt: 231.98

More Information

Access Feat

Accessibility Features: No

Unit 1

Unit #: Yes
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bathrooms: Yes
Full Baths: Yes

Unit 2

Unit #: 2
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bathrooms: Yes
Full Baths: Yes

Unit 3

Unit #: 3
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bathrooms: Yes
Full Baths: Yes

Unit 4

Unit #: 4
Unit Description: LR, KIT/EA,2BRS, BA
SqFt: 784
Occupied: Yes
Monthly Rent: 1600
Bathrooms: Yes
Full Baths: Yes

Property Features

Laundry Features: In Unit Exterior Material: Brick Substructure: Full Lot Description: Level Sewer: Public Sewer Water: Public Water Utilities Attached: Electricity Connected; Natural Gas Connected; Phone Connected Util Avail at Street: Cable Available; Electricity Available; Natural Gas Available; Phone Available; Public Sewer; Public Water Owner Pays: None Tenant Pays: Electric; Gas; Sewer; Trash; Water Heat Source: Natural Gas Heat Type: Forced Air Air Conditioning: Central Air Driveway: Paved Street Type: Paved; Public Terms Available: Cash; Other Possession: Close Of Escrow Sale Conditions: None

Listing Office: EXP Realty (Grand Rapids)

Listing Agent: Ryan Ogle

Last Updated: May - 02 - 2025

The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.