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1054 Ionia SW Avenue Grand Rapids, MI 49507
4,792 Sqft Lot
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Key Details
Property Type Multi-Family
Sub Type 2 to 4 Units
Listing Status Active
Purchase Type For Sale
Municipality City of Grand Rapids
MLS Listing ID 26047950
Year Built 1910
Annual Tax Amount $6,239
Tax Year 2025
Lot Size 4,792 Sqft
Acres 0.11
Lot Dimensions 42x102
Property Sub-Type 2 to 4 Units
Source Michigan Regional Information Center (MichRIC)
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. 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
Rooms
Basement Full
Interior
Heating Forced Air
Exterior
Utilities Available Cable Available, Electricity Connected
View Y/N No
Roof Type Composition
Street Surface Paved
Total Parking Spaces 3
Building
Lot Description Sidewalk
Structure Type Brick
New Construction No
Schools
School District Grand Rapids
Others
Tax ID 411336478006
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Bellabay Realty (North)
Nearby Locations
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