501 3 Mile Road Ne, Grand Rapids, MI 49505

Grand Rapids
Local realty services provided by:ERA Reardon Realty Great Lakes
501 3 Mile Road Ne,Grand Rapids, MI 49505
$349,900
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Pending
Listed by: justin w moorehead
Office: five star real estate (eastown)
MLS#:26015647
Source:MI_MICHRIC

Price summary

  • Price:$349,900

About this home

4-unit value-add opportunity in Riverside Gardens with immediate upside for the next owner. Strong rental location, long-term ownership, and flexible unit mix including (2) 2-bedroom units, (1) 1-bedroom unit, and (1) studio, all with 1 bath. Two units currently occupied, all month-to-month. Largest 2-bedroom unit is vacant with new carpet, creating an immediate opportunity for lease-up, owner occupancy, or renovation. Current rents have been conservatively managed at approximately $800-$1,100/month, previously totally $4,000/month,, while leaving room for increased income through improved management and updates. Property includes 1 forced air furnace, 3 wall furnaces, 4 gas meters, 4 water heaters, and 2 electrical panels. Primary roof replaced approximately 7-8 years ago. Seller recently secured 6yr rental certification. Detached garage needs re-work but good potential for covered tenant parking and storage. Strong fit for value add, long term investors. Top notch location!

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Home facts

  • Year built:1900
  • Listing ID #:26015647
  • Added:17 day(s) ago
  • Updated:May 03, 2026 at 07:28 AM

Rooms and interior

  • Basement:Yes

Heating and cooling

  • Heating:Forced Air, Wall Furnace

Structure and exterior

  • Year built:1900
  • Lot area:0.23 Acres
  • Construction Materials:Vinyl Siding

Utilities

  • Sewer:Public Sewer

Finances and disclosures

  • Price:$349,900
  • Tax amount:$3,899 (2025)

Parking

  • Total parking spaces:5

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