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$ 1,999,900

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116 and146 Coleman Street SE Gaines Twp, MI 49548

12 Beds

1.2 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 65025051684

Bedrooms 12

Year Built 1984

Annual Tax Amount $13,800

Lot Size 1.200 Acres

Acres 1.2

Lot Dimensions 435x120x435x120

Source Greater Regional Alliance of REALTORS®

Property 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 legaldescription. 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.

Location

State MI

County Kent

Area Gaines Twp

Zoning Commercial

Direction East off 7400 Block of S. Division

Interior

Interior Features Laundry Facility, Cable Available

Heating Forced Air

Cooling Wall Unit(s)

Fireplace no

Heat Source Natural Gas

Laundry 1

Exterior

Garage Spaces 26.0

Roof Type Composition

Accessibility Accessible Entrance, Other Accessibility Features

Road Frontage Paved

Garage no

Private Pool No

Building

Foundation Slab

Sewer Sewer (Sewer-Sanitary)

Water Public (Municipal)

Structure Type Brick

Schools

School District Kentwood

Others

Pets Allowed Yes

Tax ID 412207305052 and 053

Ownership Private Owned

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Listed by Dwight J Berens of RE/MAX of Grand Rapids (Stndl)

Realtyflo Inc

Brokerage | License ID: 6505386963

+1(313) 466-7253

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