Historic Four-Unit Victorian
For Sale
$650,000
345 Paris SE Avenue, Grand Rapids, MI 49503
Four residential units feature varied layouts, updated finishes, smart storage, and off-street parking.
Property Size3,273 SF
Price / SF$198.59
Days on Market493
Property Features for 345 Paris SE Avenue
General Information
Standard status
Active
Size
3,273 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,130
Amenities
off-street parking
Building Details
Year Built
1875
Construction
Queen Anne Victorian
Listing Agency:
Five Star Real Estate (Eastown)
(616) 608-0600
Listed By:
Angelique Edwards · License #6501445169
(616) 432-0126
Source:
Exitrealty
Added: Jun 12, 2025
Changed: Oct 6
Last Checked: Oct 5 at 3:28PM
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 Five Star Real Estate (Eastown)
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1875, this Queen Anne Victorian at 345 Paris SE Avenue contains four residential units with 7 bedrooms, 6 bathrooms, and 3,273 sq ft of living space. The property retains distinctive architectural character, including an olive green and yellow exterior, a turret nook, and defined living and dining areas in select units. Unit layouts vary, with one offering an open kitchen and another featuring a turret-adjacent space filled with natural light. Updated finishes, modern conveniences, and integrated storage contribute practical functionality throughout the building.
The property is located in Grand Rapids' Heritage Hill, minutes from downtown, area colleges, and the Medical Mile. Ample off-street parking adds convenience for residents and visitors.
The property is located in Grand Rapids' Heritage Hill, minutes from downtown, area colleges, and the Medical Mile. Ample off-street parking adds convenience for residents and visitors.
Key Highlights
- Four‑unit residential property with 7 bedrooms and 6 bathrooms
- 3,273 sq ft of living space in an 1875 Queen Anne Victorian
- Distinctive olive green and yellow exterior with historic architectural details
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,703
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$694,060
$694.1K
Cap Rate 7%
$495,757
$495.8K
Cap Rate 9%
$385,589
$385.6K
Market Conditions
NOI Build-Up for 3,273 SF
Gross rent
$53.0K $16.20/SF
− Vacancy
−$3.4K −$1.05/SF
EGI
$49.6K $15.15/SF
− OpEx
−$14.9K −$4.54/SF
NOI
$34.7K $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%
$694,060
Cap Rate 7%
$495,757
Cap Rate 9%
$385,589
Alternative Uses
Best Use
Multifamily LT 5
$495.8K
$433.8K – $578.4K
NOI $34,703 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$443.8K
$388.4K – $517.8K
NOI $31,068 @ 7.0% cap · market cap 4.78%
Theoretical Best
Specialty Retail
$759.6K
$664.6K – $886.2K
NOI $53,170 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,856
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units feature varied layouts, updated finishes, smart storage, and off-street parking.
Where is this quadplex located?
The property is located at 345 Paris SE Avenue Grand Rapids, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Four‑unit residential property with 7 bedrooms and 6 bathrooms; 3,273 sq ft of living space in an 1875 Queen Anne Victorian; Distinctive olive green and yellow exterior with historic architectural details
