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: $1,495,000 List Date: 2/19/2025 Last Modified: 5/02/2025

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!

More Information 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 Area: Grand Rapids - G

OfficeContract Info

Status: Sold Current Price: $1,455,000 List Price: $1,495,000 Listing Date: 2024-11-14

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 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: $1,455,000 Sold Price/SqFt: 231.98

Access Feat

Accessibility Features: No

Unit 1

Unit #: 1 Unit Description: LR, KIT/EA,2BRS, BA SqFt: 784 Occupied: Yes Monthly Rent: 1600 Bedrooms: 2 Bathrooms: 1 Full Baths: 1

Unit 2

Unit #: 2 Unit Description: LR, KIT/EA,2BRS, BA SqFt: 784 Occupied: Yes Monthly Rent: 1600 Bedrooms: 2 Bathrooms: 1 Full Baths: 1

Unit 3

Unit #: 3 Unit Description: LR, KIT/EA,2BRS, BA SqFt: 784 Occupied: Yes Monthly Rent: 1600 Bedrooms: 2 Bathrooms: 1 Full Baths: 1

Unit 4

Unit #: 4 Unit Description: LR, KIT/EA,2BRS, BA SqFt: 784 Occupied: Yes Monthly Rent: 1600 Bedrooms: 2 Bathrooms: 1 Full Baths: 1

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
1129 Lyon Street NE, Grand Rapids, MI 49503- MLS# 24059440
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.