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501 3 Mile, 
Grand Rapids, MI 49505

$--------

(Price Hidden)

Bed


Bath


-

Sq Ft


Multi-Family

Sold

Listed by

Justin Moorehead

Five Star Real Estate (Eastown)

616-608-0600

MLS#

70525340

Source:

MI REALSOURCE

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About This Home

501 3 Mile

4-unit value-add opportunity in Riverside Gardens with immediate upside for the next owner. Strong rental location, long-term ownership, and flexible unit mix including (2) 2-bedroom units, (1) 1-bedroom unit, and (1) studio, all with 1 bath. Two units currently occupied, all month-to-month. Largest 2-bedroom unit is vacant with new carpet, creating an immediate opportunity for lease-up, owner occupancy, or renovation. Current rents have been conservatively managed at approximately $800-$1,100/month, previously totally $4,000/month,, while leaving room for increased income through improved management and updates. Property includes 1 forced air furnace, 3 wall furnaces, 4 gas meters, 4 water heaters, and 2 electrical panels. Primary roof replaced approximately 7-8 years ago. Seller recently secured 6yr rental certification. Detached garage needs re-work but good potential for covered tenant parking and storage. Strong fit for value add, long term investors. Top notch location!

Home Facts

Multi-Family

Built in 1900

MLS #:

70525340

Sold:

May 14, 2026


Structure

Structure

Year Built:

1900


Lot

Lot Size (Sq. Ft):

10,018


Source:MI REALSOURCE
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