Address
1054 Ionia Avenue Sw, Grand Rapids, MI
Price
$ 459,900
Property Attributes
- MLS#26047950
- TypeMulti-Family
- Listing Status Active
- CountyKENT
- CityGrand Rapids
- AreaCity of Grand Rapids
- NeighborhoodCity of Grand Rapids
- Zip49507
- Style2 to 4 Units
- Year Built1910
- Taxes$ 6239
- Price$ 459,900
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.11 Acres
Data Source:
Michigan Regional Information Center (MICHRIC)
Property Description
**Rare 4-unit investment opportunity in Grand Rapids, offering immediate cash flow with room to grow, plus a built-in owner-occupant option.** All four units feature matching two bedroom, one bath layouts, keeping management simple and turnover predictable. The roof and windows were noted the time of purchase to have been recently replaced. One unit is currently vacant, ready to lease immediately or move into yourself, making this a great house-hack opportunity: live in one unit while the other three help cover the mortgage. For investors, that same vacancy is simply ready-to-lease upside. Beyond that, this is a documented value-add opportunity. Another unit sits on a long-term lease priced below what comparable units in the building are already achieving, offering a clear, near-term path to a stronger rent roll without any renovation required. A third unit is Section 8 assisted, adding a layer of payment reliability to the property's income. Located minutes from downtown Grand Rapids in a submarket with steady rental demand, this is an efficient way to add meaningful door count in a single transaction, or to get into property ownership with tenants already helping you pay it down. Whether you're scaling a portfolio, executing a 1031 exchange, house-hacking your first property, or looking for a multifamily acquisition with upside already built in, 1054 Ionia offers a strong foundation and a clear plan forward. Rent roll and financials available upon request.
| Price History | |
|---|---|
| 9/9/2026 | Listed $459,900 |
General Features
| Heating | Forced Air |
|---|---|
| Utilities | Cable Available,Electricity Connected |
| Possession | Close Of Escrow |
| Roof | Composition |
| Construction Materials | Brick |
| Year Built | 1910 |
| Tenant Pays | Electric,Gas |
| Township | City of Grand Rapids |
| Property Subtype | 2 to 4 Units |
| Tax Year | 2025 |
| Ownership | Private Owned |
| OwnerPays | Water,Sewer |
| County | Kent |
| New Construction | No |
| Property Type | Multi Family |
| Status | Active |
| City | Grand Rapids |
| High School District | Grand Rapids |
| Zoning Description | Res Inc |
| Number Of Units Total | 4 |
| Lot Size Units | Acres |
| Lot Size Square Feet | 4792.0 |
| Listing Terms | Cash,Conventional |
| Land Lease Y/N | No |
| Tax Annual Amount | 6239.0 |
| Lease Renewal Y/N | No |
| Additional Parcels Y/N | No |
| Rent Control Y/N | No |
| Standard Status | Active |
| Occupancy Type | Tenant |
| Tax Assessed Value | 125600 |
| MobileHomeRemainsYN | No |
| Legal Description | N 42 FT OF LOT 26 & S 5 FT OF W 75 FT OF LOT 25* NAEGLE S FOURTH ADDITION |
| Senior Community | None |
Interior Features
| Basement | Full |
|---|---|
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
Exterior Features
| Lot Features | Sidewalk |
|---|---|
| Total Parking | 3.0 |
| Lot Size Area | 0.11 |
| Number of Buildings | 1 |
| Spa | No |
| Lot Dimensions | 42x102 |
| Lot Size Acres | 0.11 |
| Road Surface Type | Paved |
| Waterfront Y/N | No |
| Crops Included Y/N | No |
| Horse Y/N | No |
| Irrigation Water Rights Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 49507
Price
Taxes
Year Built
Visits
Listing information is provided by Participants of the MichRIC MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. ©: MichRIC MLS. Last Update September 22, 2026 12:33 AM UTC
Northern Great Lakes REALTORS® MLS All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
