Two-Unit Duplex with Private
New
For Sale
$495,000
235 Union Avenue SE, Grand Rapids, MI 49503
Multi Family, Grand Rapids, MI
Property Size2,880 SF
Lot Size0.13 Acres
Price / SF$171.88
Days on Market2
Property Features for 235 Union Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
RES
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 6
Parking
4
Parking features
Driveway
Basement
Full
Subdivision
Heritage Hill
Lot features
Level, Sidewalk
Elementary school district
Grand Rapids
Middle school district
Grand Rapids
High school district
Grand Rapids
Standard status
Active
APN
41-14-30-454-025
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N 34 FT OF LOT 39 & S 6 FT OF LOT 40* NORTHROP S ADDITION
Tax Annual Amount
9397
Legal Description
N 34 FT OF LOT 39 & S 6 FT OF LOT 40* NORTHROP S ADDITION
Utilities
Heating system
Hot Water(Heating), Radiant
Building Details
Year built
1895
Number of units
2
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Riley Dean Properties LLC
(616) 304-8911
Listed By:
Tyan Roelands · License #6502433369
(616) 295-5715
Added: Oct 31
Last Checked: Nov 1 at 9:06AM
MLS# 26057956
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1895-built duplex contains two units totaling 2,880 square feet. The lower residence offers 1,200 square feet, three bedrooms, two full bathrooms, a private deck, and a full basement. Above, a 1,680-square-foot unit has three bedrooms, one full bathroom, a private deck, and a finished walk-up attic. Wood siding, a composition roof, hot water and radiant heating, and driveway parking are also part of the property.
The 0.13-acre property is in Grand Rapids, near downtown, restaurants, shopping, and neighborhood amenities. Its two distinct residences include outdoor space and additional storage areas in both units.
The 0.13-acre property is in Grand Rapids, near downtown, restaurants, shopping, and neighborhood amenities. Its two distinct residences include outdoor space and additional storage areas in both units.
Key Highlights
- Two units with 2,880 square feet total
- Lower unit: 1,200 square feet, 3 bedrooms, 2 full bathrooms, private deck, and full basement
- Upper unit: 1,680 square feet, 3 bedrooms, 1 full bathroom, private deck, and finished walk‑up attic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,536
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,720
$610.7K
Cap Rate 7%
$436,229
$436.2K
Cap Rate 9%
$339,289
$339.3K
Market Conditions
NOI Build-Up for 2,880 SF
Gross rent
$46.7K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$43.6K $15.15/SF
− OpEx
−$13.1K −$4.54/SF
NOI
$30.5K $10.60/SF
Area
Grand Rapids, MI
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,720
Cap Rate 7%
$436,229
Cap Rate 9%
$339,289
Alternative Uses
Best Use
Multifamily LT 5
$436.2K
$381.7K – $508.9K
NOI $30,536 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$390.5K
$341.7K – $455.6K
NOI $27,337 @ 7.0% cap · market cap 5.52%
Theoretical Best
Specialty Retail
$668.4K
$584.8K – $779.8K
NOI $46,786 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,359
Businesses Nearby
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Business Placement
Demographics for 49503, MI
39,344
Population
19,017
Households
2.1
Avg Household Size
30
Median Age
44%
College-Educated
88%
High-School Grad
7.3 sq mi
ZIP Area
5,390
Density / Sq Mi
$61,734
Median Household Income
$36,694
Median Earnings
$1,207
Median Rent
$224,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences provide six bedrooms and private outdoor areas across both units.
Where is this duplex located?
The property is located at 235 Union Avenue SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two units with 2,880 square feet total; Lower unit: 1,200 square feet, 3 bedrooms, 2 full bathrooms, private deck, and full basement; Upper unit: 1,680 square feet, 3 bedrooms, 1 full bathroom, private deck, and finished walk‑up attic
