Four-Unit
For Sale
$449,900
1054 Ionia Ave SW, Grand Rapids, MI 49507
Matching layouts, a vacant unit, and Section 8 assistance create a straightforward multifamily ownership profile.
Property SizeContact for details
Days on Market49
Property Features for 1054 Ionia Ave SW
General Information
Standard status
Active
Property subtype
Multi-Family
Site & Location
Neighborhood
Southwest
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1910
Listing Agency:
RE/MAX Perrett Associates
Listed By:
Janice Allen
(269) 248-5766
Source:
Michiganhomegirl
Added: Sep 11
Changed: Oct 28
Last Checked: Oct 28 at 8:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Perrett Associates
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Investment Insights
Based on property information with market context.
This four-unit quadplex at 1054 Ionia Ave SW in Grand Rapids was built in 1910 and contains four matching apartments, each with two bedrooms and one bathroom. One apartment is vacant, while the occupied units include a residence supported through Section 8 assistance. The roof and windows were recently replaced as of the time of purchase.
The property is located minutes from downtown Grand Rapids. One apartment is leased under a long-term agreement at a rent below the levels achieved by other units in the building, providing a documented opportunity to improve the rent roll without renovation. The vacant apartment offers flexibility for a new lease or owner occupancy.
The property is located minutes from downtown Grand Rapids. One apartment is leased under a long-term agreement at a rent below the levels achieved by other units in the building, providing a documented opportunity to improve the rent roll without renovation. The vacant apartment offers flexibility for a new lease or owner occupancy.
Key Highlights
- Four apartments, each configured with 2 bedrooms and 1 bathroom
- One unit is currently vacant and available for leasing or owner occupancy
- One apartment receives Section 8 rental assistance
Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
754
Businesses Nearby
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Business Placement
Demographics for 49507, MI
38,137
Population
13,773
Households
2.8
Avg Household Size
30
Median Age
27%
College-Educated
78%
High-School Grad
5.5 sq mi
ZIP Area
6,934
Density / Sq Mi
$56,578
Median Household Income
$34,939
Median Earnings
$1,114
Median Rent
$179,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Matching layouts, a vacant unit, and Section 8 assistance create a straightforward multifamily ownership profile.
Where is this quadplex located?
The property is located at 1054 Ionia Ave SW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Four apartments, each configured with 2 bedrooms and 1 bathroom; One unit is currently vacant and available for leasing or owner occupancy; One apartment receives Section 8 rental assistance
