For Sale
$3,100,000
1 Oakes St Grand Rapids, MI 49503
15-Unit Apartment Building, Downtown GR
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 131
Highlights
- $3,100,000 asking price for a stabilized Class B multifamily investment.
- 15-unit apartment building totaling 15,556 square feet, with a price per square foot of $199.28 and a 6.68% cap rate.
- Three retail units (4,621 SF total) on long-term triple-net leases, and twelve residential units (650-1,340 SF) currently 100% occupied.
- Recent upgrades include new laundry facilities, a vapor mitigation system, and HVAC improvements; seller offering a window replacement credit at closing.
- Located in downtown Grand Rapids, MI, with on-site parking.
Property Details for 1 Oakes St
- Property type
- Apartment buildings
- Square Feet
- 15,556 SF
- Class
- B
- Year Built
- 1911
- Buildings
- 1
- Stories
- 3
- Units
- 15
Location Insight
- City
- Grand Rapids
- County
- Kent
- State
- Michigan
- Latitude
- 42.9610842
- Longitude
- -85.6683173
Nearby Similar for Sale
FAQs
- What type of property is this?
- Apartment building - 15-Unit Apartment Building, Downtown GR
- Where is the apartment building located?
- The property is located at 1 Oakes St Grand Rapids, MI.
- What is the asking price?
- The asking price for this property is $3,100,000.
- What are key features of this property?
- This property features: $3,100,000 asking price for a stabilized Class B multifamily investment.; 15-unit apartment building totaling 15,556 square feet, with a price per square foot of $199.28 and a 6.68% cap rate.; Three retail units (4,621 SF total) on long-term triple-net leases, and twelve residential units (650-1,340 SF) currently 100% occupied.
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