Triplex with Two Rental
New
For Sale
$465,000
321 Madison Ave SE, Grand Rapids, MI 49503
The owner-occupied main residence is complemented by two upstairs apartments with long-term tenants.
Property SizeContact for details
Days on Market7
Property Features for 321 Madison Ave SE
General Information
Standard status
Active
Property subtype
Investment
Site & Location
Neighborhood
Heritage Hill
Public Transit
Yes
Units
Unit Mix
1 x studio, 1 x 1BR
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,046
Building Details
Year Built
1880
Units
3
Tenancy
Multi
Listing Agency:
Grand River Realty
Listed By:
Pete J Bruinsma
(616) 293-5731
Source:
Elliman
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 28 at 9:18AM
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 Grand River Realty
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Investment Insights
Based on property information with market context.
Built in 1880, this three-unit residential property at 321 Madison Ave SE in Grand Rapids includes an owner-occupied main residence and two upstairs apartments. The main unit has original millwork, oak floors, a fireplace, formal dining room, and 1.5 bathrooms. A studio with a walk-up attic and a separate one-bedroom apartment are occupied by long-term tenants.
The basement has tall ceilings, and the backyard includes a concrete parking pad. Walk Score is 76, Bike Score is 56, and Transit Score is 58. A bus stop and shared scooter access are located at the end of the street.
The basement has tall ceilings, and the backyard includes a concrete parking pad. Walk Score is 76, Bike Score is 56, and Transit Score is 58. A bus stop and shared scooter access are located at the end of the street.
Key Highlights
- Three‑unit property built in 1880
- Owner‑occupied main residence plus two upstairs apartments with long‑term tenants
- Apartment mix includes a studio with walk‑up attic and a one‑bedroom unit
Property Analytics
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,305
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?
Triplex - The owner-occupied main residence is complemented by two upstairs apartments with long-term tenants.
Where is this triplex located?
The property is located at 321 Madison Ave SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Three‑unit property built in 1880; Owner‑occupied main residence plus two upstairs apartments with long‑term tenants; Apartment mix includes a studio with walk‑up attic and a one‑bedroom unit
