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Updated 5-Unit Multifamily Property
For Sale
$895,000

308 Franklin St, Grand Haven, MI 49417

Turnkey 5-unit building with multiple recent capital improvements and dedicated parking in a walkable downtown setting.

Property SizeContact for details
Days on Market83

Property Features for 308 Franklin St

General Information

Standard status Active
Total Parking Spaces 7
Property subtype Investment

Additional Details

Business Included Yes
Multifamily Units 5

Taxes and HOA fees

Annual Taxes $10,362

Building Details

Year Built 1908
Units 5
Tenancy Multi
Listing Agency: Coldwell Banker Schmidt Family Of Companies
Listed By: Brian David Klingel · License #6501319991
Source: Elliman
Added: Jun 3 Changed: Aug 16 Last Checked: Aug 23 at 9:08AM

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 Coldwell Banker Schmidt Family Of Companies

Investment Insights

Based on property information with market context.

This well-maintained 5-unit multifamily property features updates across the units, including fresh paint, updated light fixtures, new flooring, and updated appliances, creating a move-in-ready living experience. Recent capital improvements include a new roof approximately five years ago, a newly constructed front porch with new roof, Anderson 800 Series windows in the bay area of Unit #1, replacement windows throughout the property, a new furnace, five mini-split systems, updated air conditioning components, underground sprinkling, and a new composite side deck. A detached garage provides two covered parking spaces, and the property also offers a total of 7 dedicated parking spaces. The sale includes furnishings currently within Unit #5.

Located in downtown Grand Haven, the property sits along the city’s renowned parade route and is just moments from the waterfront, shopping, dining, restaurants, and year-round community events. With a walk score of 82 (very walkable) and a bike score of 69 (bikeable), the setting supports a strong live-work lifestyle for residents.

For investors or owner-operators seeking a manageable, turnkey residential income asset, the combination of unit updates and substantial building-level improvements is designed to reduce near-term maintenance concerns. Unit #5 is noted as commanding a premium rental rate compared to the other units; contact the office for current rental income information, operating expenses, and Unit #5 details.

Key Highlights

  • 5‑unit multifamily building built in 1908 in downtown Grand Haven
  • Recent upgrades include a roof about 5 years ago, replacement windows, and new furnace
  • Unit #1 bay area has Anderson 800 Series windows; five mini‑split systems and updated air conditioning components

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Auto Repair Shop Restaurant Spa & Massage Center Electrical Service Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity

Location Intelligence

Trade Area within ½ mile

30
Businesses Nearby

Demographics for 49417, MI

32,406
Population
14,709
Households
2.2
Avg Household Size
43
Median Age
38%
College-Educated
95%
High-School Grad
46.9 sq mi
ZIP Area
691
Density / Sq Mi
$84,476
Median Household Income
$45,392
Median Earnings
$1,101
Median Rent
$287,800
Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025
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Frequently Asked Questions

What type of property is this?
Apartment building - Turnkey 5-unit building with multiple recent capital improvements and dedicated parking in a walkable downtown setting.
Where is this apartment building located?
The property is located at 308 Franklin St Grand Haven, MI.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 5‑unit multifamily building built in 1908 in downtown Grand Haven; Recent upgrades include a roof about 5 years ago, replacement windows, and new furnace; Unit #1 bay area has Anderson 800 Series windows; five mini‑split systems and updated air conditioning components
More about this property
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