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Downtown Realty

team@dtrdetroit.com +1(313) 466-7253

$ 485,000

Est. payment -/mo

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Price Dropped by $14K

909 Spencer Street NE Grand Rapids, MI 49505

4 Beds

10,454 Sqft Lot

UPDATED:

10/17/2024 03:37 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 65024043407

Bedrooms 4

Originating Board Greater Regional Alliance of REALTORS�

Year Built 1936

Annual Tax Amount $3,976

Lot Size 10,454 Sqft

Acres 0.24

Lot Dimensions 54x195

Property Description

Great opportunity! 4 units that has been flawlessly maintained by retiring owner for over 40 years. Metal roof on front 7-8 years old. 2 newer furnaces- 3 years. 4 new water heaters. Lots of laminate flooring, building + units all show nice. Low current rents, however all units have leases up soon. Projected market rents of $4700. Unit 1 could be 2 br = $1,200, #2 1 br = $1,000, #3 1 br = $1,000, #4 could be 3 br = $1,500. Separate gas + electric. Parking lot recently repaved w/8 spots. Fenced back yard 195' lot. City compliance thru 7/29/25. Many new windows. Unit 1 (to left main entrance) lr, kit, ea, br, ba, br, mud room, mechanicals, both brs have WIC, walk in pantry, new windows 2024, updated ba, vaulted ceilings. $700/mo m2m. Unit 2 1st floor back, lr,kit, ea, 1 br, ba, furnace 2021left vacant for showings was $650-700 last tenant was 8 yrs. Unit 3 1st on right Lr, kit, ea, br, ba, play area $800 1 yr lease exp 8/31/24 section 8 Unit 4 up lr, lg kit, br w/wic, dormer br $800 lease exp 10/31/24

Location

State MI

County Kent

Area Grand Rapids

Zoning Other

Direction N off of Leonard to Spencer to home

Interior

Heating Forced Air

Fireplace no

Heat Source Natural Gas

Exterior

Garage Spaces 8.0

Pool No

Waterfront no

Roof Type Composition,Metal

Road Frontage Paved, Pub. Sidewalk

Garage no

Building

Foundation Slab

Sewer Public Sewer (Sewer-Sanitary), Sewer at Street, Storm Drain

Water Public (Municipal), Water at Street

Structure Type Block/Concrete/Masonry,Vinyl

Schools

School District Grand Rapids

Others

Pets Allowed Yes

Tax ID 411417302037

Ownership Private Owned

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

Financing Cash,Conventional,FHA

Listed by RE/MAX of Grand Rapids (FH)

Downtown Realty

Brokerage | License ID: 6505386963

+1(313) 466-7253

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