116 and146 Coleman Street SE, Grand Rapids, MI 49548 (MLS# 25051684)

116 and146 Coleman Street SE, Grand Rapids, MI 49548

$1,825,000

Property Type: Multi Family Lot Size (sq. ft.): 52,200 Status: Sold

Current Price: $1,999,900 List Date: 10/08/2025 Last Modified: 1/26/2026

Overview

Description

This is a rare opportunity for the smaller investor or investment group to own a solid 16-unit (2 building) apartment complex in desirable Gaines Township (lower millage rates than Kentwood or Wyoming). Units include five-1 bedroom units and eleven 2-bedroom units, a laundry room in each building, plus two 8-car carports and 12 more open air parking spaces. This is a one owner (seller bought from builder in 1985) - seller have enjoyed this investment for 40 years but ready to turn it over to younger buyers and then go sit in the sun. Rent has been kept below market for many long-term tenants. All units have separate heat and electric, owner pays for gas and electric in laundry room. Units are in a variety of updated conditions; some units have been recently updated while a few could use freshing up. Convenient to US 131 via 76th St. Seller will sell as a package, or is also willing to split the buildings into two properties (each building has its own parcel number and legal

Supplements: description. All units are between 600 and 650 square feet of living space. See attached documents for descriptions of all 16 units. Check and compare, nothing like it in Western Michigan.

Listing Details MLS# 25051684

Location Property Info

County: Kent
Street #: 116 and146
Street Name: Coleman
Suffix: Street
Post Direction: SE
State: MI
Zip Code: 49548

General Property Info

Lot Measurement: Acres
Lot Square Footage: 52200
Lot Acres: 1.2
Lot Dimensions: 435x120x435x120
Year Built: 1984
New Construction: No
Cert of Compliance: No
Road Frontage: 435
Total # Units: 16
# of Diff Unit Floor Plans: 2
Total # Bldgs: 2
Total Parking Spaces: 26
Waterfront: No
School District: Kentwood
Basement: No

Tax Info

Tax ID #: 412207305052 and 053
Taxable Value: 301037
SEV: 459000
For Tax Year: 2025
Seller's Annual Property Tax: 13800
Tax Year: 2024
Spec Assessment & Ty: NOR
Zoning: 201 Commercial
Homestead %: 0

Remarks Misc

Directions: East off 7400 Block of S. Division

Status Change Info

Under Contract Date: 2025-10-22
Sold Date: 2026-01-02

More Information

Access Feat

Accessibility Features: Yes

Income and Expenses

Annual Insurance: 5200
Annual Mgmt. Fees: 7700
Annual Utilities: 2900
Gross Op. Inc.: 180000
Net Operating Income: 73000
Operating Expense: 107000

Unit 1

Unit Description: 2bd, 1bth
SqFt: 650
Occupied: Yes
Monthly Rent: 880
Bathrooms: Yes
Full Baths: Yes
A/C Unit: Yes
Carport: Yes
Deck/Patio: Yes
Dishwasher: Yes
Range Oven: Yes
Refrigerator: Yes
Sep. Heat System: Yes

Unit 2

Unit Description: 2bd, 1bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1125
Bathrooms: Yes
Full Baths: Yes
A/C Unit: Yes
Carport: Yes
Deck/Patio: Yes
Dishwasher: Yes
Garb Disp: Yes
Range/Oven: Yes
Refrigerator: Yes
Sep. Heat System: Yes

Unit 3

Unit Description: 1 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1095
Bathrooms: Yes
Full Baths: Yes
Range/Oven: Yes
A/C Unit: Yes
Carport: Yes
Deck/Patio: Yes
Dishwasher: Yes
Garb Disp: Yes
Refrigerator: Yes
Sep. Heat System: Yes

Unit 4

Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1095
Bathrooms: Yes
Full Baths: Yes
A/C Unit: Yes
Carport: Yes
Deck/Patio: Yes
Dishwasher: Yes
Garb Disp: Yes
Range/Oven: Yes
Refrigerator: Yes
Sep. Heat System: Yes

Unit 5

Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 900
Bathrooms: Yes
Full Baths: Yes
A/C Unit: Yes
Carport: Yes
Deck/Patio: Yes
Dishwasher: Yes
Garb Disp: Yes
Range/Oven: Yes
Refrigerator: Yes
Sep. Heat System: Yes

Unit 6

Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1095
Bathrooms: Yes
Full Baths: Yes
A/C Unit: Yes
Carport: Yes
Deck/Patio: Yes
Dishwasher: Yes
Garb Disp: Yes
Range/Oven: Yes
Refrigerator: Yes
Sep. Heat System: Yes

Unit 7

Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Bathrooms: Yes
Full Baths: Yes
Monthly Rent: 925
Sep. Heat System: Yes
Carport: Yes
Deck/Patio: Yes
Dishwasher: Yes
Garb Disp: Yes
Refrigerator: Yes
Range/Oven: Yes

Unit 8

Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1095
Bathrooms: Yes
Full Baths: Yes
A/C Unit: Yes
Carport: Yes
Deck/Patio: Yes
Dishwasher: Yes
Garb Disp: Yes
Range/Oven: Yes
Refrigerator: Yes
Sep. Heat System: Yes

Unit 9

Unit Description: 1 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 995
Bathrooms: Yes
Full Baths: Yes
A/C Unit: Yes
Carport: Yes
Deck/Patio: Yes
Dishwasher: Yes
Garb Disp: Yes
Range/Oven: Yes
Refrigerator: Yes
Sep. Heat System: Yes

Unit 10

Unit Description: 1 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 1021
Bathrooms: Yes
Full Baths: Yes
Carport: Yes
Deck/Patio: Yes
A/C Unit: Yes
Dishwasher: Yes
Garb Disp: Yes
Range/Oven: Yes
Refriderator: Yes
Sep. Heat System: Yes

Unit 11

Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 995
Bathrooms: Yes
Full Baths: Yes
A/C Unit: Yes
Carport: Yes
Deck/Patio: Yes
Dishwasher: Yes
Garb Disp: Yes
Range/Oven: Yes
Refriderator: Yes
Sep. Heat System: Yes

Unit 12

Unit Description: 2 bd, 1 bth
SqFt: 650
Occupied: Yes
Monthly Rent: 900
Bathrooms: Yes
Full Baths: Yes
A/C Unit: Yes
Carport: Yes
Deck/Patio: Yes
Dishwasher: Yes
Garb Disp: Yes
Range/Oven: Yes
Refriderator: Yes
Sep. Heat System: Yes

Location & Property Info

Cross Streets: Division and Coleman
Property Sub-Type: 5+ Units
Area: Grand Rapids - G
Municipality: Gaines Twp
Ownership Type: Private Owned

Office/Contract Info

Auction or For Sale: For Sale

Remarks & Misc

Public Remarks: This is a rare opportunity for the smaller investor or investment group to own a solid 16-unit (2 building) apartment complex in desirable Gaines Township (lower millage rates than Kentwood or Wyoming). Units include five-1 bedroom units and eleven 2-bedroom units, a laundry room in each building, plus two 8-car carports and 12 more open air parking spaces. This is a one owner (seller bought from builder in 1985) - seller have enjoyed this investment for 40 years but ready to turn it over to younger buyers and then go sit in the sun. Rent has been kept below market for many long-term tenants. All units have separate heat and electric, owner pays for gas and electric in laundry room. Units are in a variety of updated conditions; some units have been recently updated while a few could use freshing up. Convenient to US 131 via 76th St. Seller will sell as a package, or is also willing to split the buildings into two properties (each building has its own parcel number and legal
Legal: Lots 266, 267, 268, 269, 270, 271, 272, 273, 274, 275, 276 Fontanelle Gardens Sec 7T5N, R11W, Gaines Township

Lot Description

Level: Yes

Street Type

Paved: Yes

Util Avail at Street

None: Yes

Utilities Attached

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

Sewer

Public Sewer: Yes

Water

Public Water: Yes

Terms Available

Cash: Yes
Conventional: Yes

Mineral Rights

Unknown: Yes

Laundry Features

Laundry Room: Yes

Exterior Material

Brick: Yes

Roofing

Composition: Yes

Heat Source

Natural Gas: Yes

Sale Conditions

None: Yes

Heat Type

Forced Air: Yes

Air Conditioning

Wall Unit(s): Yes

Accessibility Feat

No Step Entrance: Yes

Tenant Pays

Electric: Yes
Gas: Yes

Driveway

Asphalt: Yes

Substructure

Slab: Yes

Extras

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

Owner Pays

Sewer: Yes
Trash Collection: Yes
Water: Yes

Possession

Close Of Escrow: Yes

Property Features

Laundry Features: Laundry Room Accessibility Feat: No Step Entrance Exterior Material: Brick Roofing: Composition Substructure: Slab Lot Description: Level Sewer: Public Sewer Water: Public Water Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected Util Avail at Street: None Extras: Carports; Laundry Facility; Sep Electric Meter; Sep Gas Meter Owner Pays: Sewer; Trash Collection; Water Tenant Pays: Electric; Gas Heat Source: Natural Gas Heat Type: Forced Air Air Conditioning: Wall Unit(s) Driveway: Asphalt Street Type: Paved Mineral Rights: Unknown Terms Available: Cash; Conventional Possession: Close Of Escrow Sale Conditions: None Unit 1: A/C Unit; Carport; Deck/Patio; Dishwasher; Range Oven; Refrigerator; Sep. Heat System Unit 2: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refrigerator; Sep. Heat System Unit 3: Range/Oven; A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Refrigerator; Sep. Heat System Unit 4: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refrigerator; Sep. Heat System Unit 5: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refrigerator; Sep. Heat System Unit 6: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refrigerator; Sep. Heat System Unit 7: Sep. Heat System; Carport; Deck/Patio; Dishwasher; Garb Disp; Refrigerator; Range/Oven Unit 8: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refrigerator; Sep. Heat System Unit 9: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refrigerator; Sep. Heat System Unit 10: Carport; Deck/Patio; A/C Unit; Dishwasher; Garb Disp; Range/Oven; Refriderator; Sep. Heat System Unit 11: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refriderator; Sep. Heat System Unit 12: A/C Unit; Carport; Deck/Patio; Dishwasher; Garb Disp; Range/Oven; Refriderator; Sep. Heat System

Documents

Unit Descriptions ›

Coleman Units ›

Listing Office: RE/MAX of Grand Rapids (Stndl)

Listing Agent: Dwight J Berens

Last Updated: January - 26 - 2026

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