Grand Rapids, MI Apartment Buildings for Sale

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Updated: May 9, 2025

Modern Condominium in Alger Heights

2550 Eastern #105, Grand Rapids, MI 49507

$231,000

1,501 sqft

Income‑qualified, affordable condominium in Alger Heights.
Two‑story unit with 2‑3 bedrooms and 2 full bathrooms.
Main‑floor bedroom and bath for accessibility.
In‑unit laundry and assigned parking.
Low‑maintenance living: lawn care, snow removal, water, and trash included.

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This listing looks promising.

Here's a quick look at some key insights for

2550 Eastern #105, Grand Rapids, MI 49507,

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Est. Cap Rate

6.2%
Above avg (5.9%)
Est. NOI

$14K
Annual
Mortgage

$4M
Jul 2024
Property Type

Office Building
Built 1940

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Updated: Aug 13

8-Unit Apartment Buildings

522 Michigan Street NE, Grand Rapids, MI 49503

$1,095,000

0.26 AC lot

8‑unit multifamily property with two buildings on 0.26 acres
Six‑unit building includes 10 on‑site parking spaces and an on‑demand water heater
Unit mix includes 2BR, 1BR, studio/1BR loft, studio, and two 3BR units
Second building at 526 Michigan St. has updated PEX plumbing and two electrical panels
1 block from GVSU and 3 blocks from Corewell Health

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Historic Apartment Building with Back Deck Access

21 Prospect Avenue SE, Grand Rapids, MI 49503

$699,900

0.25 AC lot

1905 wood-sided apartment building with baseboard heat, composition roof, public sewer, and natural gas available.

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Five-Unit Apartment Building

623 Cherry Street SE, Grand Rapids, MI 49503

$689,900

0.39 AC lot

Five 1BR/1BA units with off-street parking, offering a straightforward multifamily configuration in Grand Rapids.

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Grand Rapids Condo with Updates

476 Barkwood Ct, Grand Rapids, MI 49534

$192,500

1,100 sqft

Two-bedroom condo with new deck, water heater, and in-unit laundry.

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Four-Story Mixed-Use Building

20 & 22 Crescent Street NE, Grand Rapids, MI 49501

$1,350,000

0.07 AC lot

Five residential units complement a flexible office area with a kitchen, full bathroom, and washer and dryer hookup.

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5-Unit Multifamily Investment

549 LOGAN ST SE, Grand Rapids, MI 49503

Contact for pricing

3,636 sqft

Fully occupied 5-unit multifamily property in Grand Rapids’ Heritage Hill Historic District.

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8-Unit Multifamily Property

522 Michigan St NE, Grand Rapids, MI 49503

$1,095,000

Two maintained apartment buildings near Grand Valley State University and Corewell Health with established occupancy and on-site parking.

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Iconic West Side Bar Opportunity

741 LEONARD St NW, Grand Rapids, MI 49504

$1,999,999

0.17 AC lot

Iconic bar with apartments and liquor license for sale.

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Five-Unit Apartment Building

623 Cherry St SE, Grand Rapids, MI 49503

$689,900

Five 1-bed, 1-bath units with off-street parking, currently generating stated monthly rent.

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Downtown Grand Rapids Mixed-Use Building

20 & 22 Crescent St NE, Grand Rapids, MI 49501

$1,350,000

Four-story mixed-use building in downtown Grand Rapids for sale.

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Modern Condominium in Alger Heights

2550 Eastern #124, Grand Rapids, MI 49507

$231,000

Income-qualified 2-3 bedroom condominium in Alger Heights.

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Modern Condominium in Alger Heights

2550 Eastern #107, Grand Rapids, MI 49507

$231,000

Income-qualified 2-3 bedroom condo in historic Alger Heights.

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Modern Condominium in Alger Heights

2550 Eastern #106, Grand Rapids, MI 49507

$231,000

Income-qualified 2-3 bedroom condominium in the heart of Alger Heights.

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Modern Condominium in Alger Heights

2550 Eastern #120, Grand Rapids, MI 49507

$231,000

Income-qualified 2-3 bedroom condominiums in historic Alger Heights.

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Based on your search, we've compiled 20 Potential Opportunities for your consideration. Besides 15 Active listings in Grand Rapids, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 1 Off-Market properties to explore as potential leads

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Turn-Key Apartment Building

1720 Porter Street SW, Wyoming, MI 49519

$1,850,000

0.72 AC lot

Brick, turn-key 14-unit building with separately metered electric, coin laundry, and carports on a 0.72-acre lot.

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Turn-Key Brick Apartment Building

1720 Porter St SW, Wyoming, MI 49519

$1,850,000

Turn-key 14-unit brick building with updated interiors, newer boiler, coin laundry, and separately metered electric.

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Updated Parkside Condominium with Garage

2843 Parkside #14, Jenison, MI 49428

$283,000

Updated 3-bedroom condo with garage, immediate occupancy available.

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Turnkey Condo in Jenison

7373 Pine Grove, Jenison, MI 49428

$245,000

2 bed, 1.5 bath condo with garage and storage.

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Off-Market Properties in Grand Rapids, MI

Consider similar Off-Market properties in Grand Rapids, MI. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

Multifamily properties

1 Oakes St, Grand Rapids, MI 49503

Value Estimation by Request

15,556 sqft

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Grand Rapids, MI Apartment Buildings Market Trends and Statistics

Explore 16 apartment buildings for sale in Grand Rapids, MI, showcased through 15 active listings on our real estate platform. These investment opportunities span a total of 6,237 square feet of properties for sale, with an estimated market value of $10,317,199.

Sale prices for two-family homes in Grand Rapids, MI start at $192,500, averaging $736,942, and reaching up to $1,999,999 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 434K

Population Growth (5Y) +2.4%

Median Household Income $74,271

College Educated 24.5%

High-Yield Neighborhoods for Investment

Identify Grand Rapids submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
49534	$192.5K
49507	$231K
49506	$489.9K
49503	$693.2K
49501	$1.4M

Taxes & Financing

Tax Rate (average for all types) 3.15%

Property Tax per SF $44.85 per SF

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Kent County

New Delisted

Total CRE Inventory on Market (SF)

Average Property Price per SF

For-sale pricing trends across core commercial property types in Kent County

Retail

Office

Residential Income

Property Size Breakdown

The majority of commercial real estate listings in Grand Rapids fall within the 10,000 to 25,000 square foot range.

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