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    116 Coleman St SE Grand Rapids, MI 49548

    Pending
    For Sale
    $1,999,900

    MULTI_FAMILY - Grand Rapids, MI

    Lot size:
    1.20 Acres
    Days on Market:
    52
    Last Refresh:
    Dec 14 at 1:06 pm

    Property Features for 116 Coleman St SE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Rooms
    Bathroom 7, Bedroom 11, Bedroom 16, Bedroom 7, Bedroom 9, Bathroom 8, Bedroom 20, Bedroom 15, Bathroom 11, Bedroom 13, Bathroom 9, Bedroom 1, Bedroom 8, Bathroom 12, Laundry Room, Bedroom 19, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 5, Bedroom 17, Bathroom 3, Bathroom 6, Bathroom 10, Bedroom 6, Bathroom 2, Bathroom 5, Bedroom 14, Bedroom 10, Bedroom 18, Bedroom 12, Bedroom 21
    Bedrooms
    21
    APN
    412207305052 and 053
    Parking
    26
    Parking features
    Driveway
    Lot size
    1.20 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Wall Unit(s)

    Building Details

    Year built
    1984
    Number of units
    16
    Building materials
    Brick
    Roof type
    Composition

    RE/MAX of Grand Rapids (616) 325-2960 [email protected]

    Listing agent Dwight J Berens (616) 453-3163

    Listing date Oct 24, 2025

    MLS# 25051684 Listing URL

    Copyright © 2025 Montcalm County Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Solid 16-Unit Apartment Complex

    This is a 16-unit apartment complex comprised of two buildings located in Gaines Township. The complex features five 1-bedroom units and eleven 2-bedroom units. Each building includes a laundry room. Parking amenities consist of two 8-car carports and 12 open-air parking spaces. Constructed by a single owner who purchased the property from the builder in 1985, this investment has been under the same ownership for 40 years. Rents have been maintained below market rates for long-term tenants. The units are in varied conditions, with some recently updated and others needing refurbishment. Each unit is between 600 and 650 square feet. All units have separate heat and electric meters; the owner is responsible for gas and electric in the laundry rooms. The property is conveniently located near US 131 via 76th St. The seller is open to selling the complex as a package or splitting the buildings into two separate properties, as each building has its own parcel number and legal description. The property is situated on a 1.2-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.653975
    Latitude
    42.830249

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    FAQs

    What type of property is this?
    Apartment building - Two-building apartment complex in Gaines Township with below-market rents.
    Where is this apartment building located?
    The property is located at 116 Coleman St SE Grand Rapids, MI.
    What is the asking price?
    The asking price for this property is $1,999,900.
    What are key features of this property?
    This property features: - 16-unit apartment complex in Gaines Township with lower millage rates.; - Opportunity to increase rental income by raising rents to market rates.; - Option to purchase as a package or split into two separate properties.
    (616) 453-3163
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    116 Coleman St SE Grand Rapids, MI 49548
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