555 Michigan St NE | Grand Rapids, MI 49503
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- LoopNet Team
555 Michigan St NE
Grand Rapids, MI 49503
555 Michigan · Multifamily Property For Sale · 9 Units
Investment Highlights
- 555 Michigan offers an eight-unit apartment building accentuated by modern finishes in Grand Rapid's Midtown neighborhood.
- Strategically located on the Medical Mile, a few blocks from Midtowne Medical Center, and minutes from Interstate 196/ Gerald Ford Freeway.
- Features include high ceilings, abundant natural lighting, appliances in each unit, 24/7 access, laundry facilities, and on-site maintenance.
- Investors will benefit from the desirable 100% occupancy rate and can carry back at 55% down with 6.25% interest for only five years.
PROPERTY FACTS
| No. Units | 9 | Building Size | 8,676 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low Rise | Year Built | 2018 |
| Building Class | B | Parking Ratio | 1.5/1,000 SF |
| Lot Size | 0.07 AC |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.07 AC |
| Building Size | 8,676 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2018 |
| Parking Ratio | 1.5/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Elevator
- Maintenance on site
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,423 | 627 - 647 |
| 2+2 | 4 | $1,975 | 1,030 - 1,036 |
PROPERTY TAXES
| Parcel Number | 41-14-19-459-015 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $451,400 |
PROPERTY TAXES
Parcel Number
41-14-19-459-015
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$451,400
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