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Renovated Historic Triplex
For Sale
$1,195,000

40 Lexington Avenue Northwest, Grand Rapids, MI 49504

Three-unit historic firehouse conversion with elevator access, garage parking, outdoor areas, and distinctive architectural details.

Property Size550 SF
Price / SF$2,172
Days on Market137

Property Features for 40 Lexington Avenue Northwest

General Information

Standard status Active
Size 550 SF
Property subtype Residential Income / Multi Family
Zoning res improved

Taxes and HOA fees

Annual Taxes $12,516

Amenities

Central Air
Forced Air, Natural Gas
false
Yes
No
Common Area

Building Details

Year Built 1927
Buildings 1
Listing Agency: Weichert REALTORS Plat (Main)
Listed By: Jason C VanAssen · License #6502318639
Source: Compass
Added: Apr 18 Changed: Aug 31 Last Checked: Aug 30 at 11:07PM

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 Weichert REALTORS Plat (Main)

Investment Insights

Based on property information with market context.

Built in 1927, this renovated historic firehouse contains three separate residential units and retains distinctive architectural features, including exposed brick, oversized arched windows, and a firepole in the foyer. The upper primary residence includes two bedrooms, two full bathrooms, elevator access, in-unit laundry, and an upper deck. A lower one-bedroom unit offers a renovated kitchen with a live-edge island, a full bathroom, and patio access. The upper Hayloft unit provides one bedroom, one bathroom, and floor-to-ceiling windows. The one-bedroom residences share a garage laundry area, while the garage also includes a pickleball court and five parking spaces. Four additional exterior parking spaces and a private yard with patio provide further on-site amenities. Part of the garage may be convertible to a fourth unit. The property is located near a soccer stadium and amphitheater in Grand Rapids, Michigan, at 40 Lexington Avenue Northwest.

Key Highlights

  • Three residential units in a renovated historic firehouse built in 1927
  • Upper unit includes 2 bedrooms, 2 full baths, elevator access, and in‑unit laundry
  • Five garage parking spaces plus 4 exterior parking spaces

Property Analytics

Current Use

Triplexes

Suggested Use

Top Pick Carpet & Flooring Store (Bike/Boat/Book/etc) Store Locksmith Auto Parts Store Florist Storage Facility

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

Location Intelligence

Trade Area within ½ mile

1,949
Businesses Nearby

Demographics for 49504, MI

41,249
Population
18,830
Households
2.2
Avg Household Size
33
Median Age
39%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
3,716
Density / Sq Mi
$68,326
Median Household Income
$41,138
Median Earnings
$1,145
Median Rent
$222,600
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?
Triplex - Three-unit historic firehouse conversion with elevator access, garage parking, outdoor areas, and distinctive architectural details.
Where is this triplex located?
The property is located at 40 Lexington Avenue Northwest Grand Rapids, MI.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Three residential units in a renovated historic firehouse built in 1927; Upper unit includes 2 bedrooms, 2 full baths, elevator access, and in‑unit laundry; Five garage parking spaces plus 4 exterior parking spaces
More about this property
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