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$459,900
Est. payment /mo
3,774 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 3,774 sqft
Price per Sqft $121
MLS Listing ID 65026047950
Year Built 1910
Lot Size 4,791 Sqft
Acres 0.11
Property Sub-Type MultiFamily
Property Description
**Rare 4-unit investment opportunity in Grand Rapids, offering immediate cash flow with room to grow, plus a built-in owner-occupant option.** All four units feature matching two bedroom, one bath layouts, keeping management simple and turnover predictable. The roof and windows were noted the time of purchase to have been recently replaced. One unit is currently vacant, ready to lease immediately or move into yourself, making this a great house-hack opportunity: live in one unit while the other three help cover the mortgage. For investors, that same vacancy is simply ready-to-lease upside.Beyond that, this is a documented value-add opportunity. Another unit sits on a long-term lease priced below what comparable units in the building are already achieving, offering a clear, near-term path to a stronger rent roll without any renovation required. A third unit is Section 8 assisted, adding a layer of payment reliability to the property's income. Located minutes from downtown Grand Rapids in a submarket with steady rental demand, this is an efficient way to add meaningful door count in a single transaction, or to get into property ownership with tenants already helping you pay it down. Whether you're scaling a portfolio, executing a 1031 exchange, house-hacking your first property, or looking for a multifamily acquisition with upside already built in, 1054 Ionia offers a strong foundation and a clear plan forward. Rent roll and financials available upon request.
Location
State MI
County Kent
Area Area41142Grandrapids
Rooms
Basement Full
Interior
Heating Forced Air, Natural Gas
Fireplace No
Exterior
Community Features Sidewalks
Utilities Available ElectricityConnected
View Y/N No
Roof Type Composition
Building
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Grand Rapids
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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Listed by Angela J Worth of Bellabay Realty (North)
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