116 and146 Coleman Street SE new Save Request In-Person Tour Request Virtual Tour
Gaines Twp,MI 49548
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