1021-1023 Sheridan Avenue SW, Grand Rapids, MI 49503

$385,000

Property Type: Multi Family Lot Size (sq. ft.): 4,600 Status: Sold

Current Price: $385,000 List Date: 7/30/2024 Last Modified: 5/04/2026

Overview

Description

Great investment opportunity to own a duplex and single family house right next to each other on two separate parcels. All three units are currently rented month-to-month for $4,450 per month. Electric and gas are individually metered for each unit. Water/sewer is shared for all three units. Certificate of compliance issued by the city until 9/23/2026. Take advantage of the cash flow already established and the possibility to sell the properties separately in the future. Or live in one unit and have the other two units pay the mortgage. 1021 is a 4 bedroom, 1 ½ bathroom single family. 1023 is a upper/lower duplex, each with 2 bedrooms and 1 bathroom. Both buildings have new roofs and attic venting in 2022. Tax information is for both parcels - 41-13-36-380-025 and 41-13-36-380-026.

Listing Details MLS# 24037018

Location Property Info

County: Kent
Street #: 1021-1023
Street Name: Sheridan
Suffix: Avenue
Post Direction: SW
State: MI
Zip Code: 49503

General Property Info

Lot Measurement: Acres
Lot Square Footage: 4600
Lot Acres: 0.11
Lot Dimensions: 40x115
Year Built: 1900
New Construction: No
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2026-09-23
Road Frontage: 40
Total # Units: 3
# of Diff Unit Floor Plans: 3
Total # Bldgs: 2
Total Parking Spaces: 2
Waterfront: No
School District: Grand Rapids
Basement: Yes

Tax Info

Tax ID #: 41-13-36-380-026
Taxable Value: 107205
SEV: 125000
For Tax Year: 2024
Seller's Annual Property Tax: 5315
Tax Year: 2023
Spec Assessment & Ty: None Known
Zoning: Residential
Homestead %: 0

Remarks Misc

Directions: From 131, take Hall St exit, West on Hall St, North on Sheridan to home

Status Change Info

Under Contract Date: 2024-08-21
Sold Date: 2024-09-25

More Information

Waterfront Options

Water Access Y/N: No

Access Feat

Accessibility Features: No

Unit 1

Unit #: Yes
Unit Description: 1023 Lower
SqFt: 858
Occupied: Yes
Monthly Rent: 1350
Bathrooms: Yes
Full Baths: Yes
Range Oven: Yes
Refrigerator: Yes
Sep. Heat System: Yes

Unit 2

Unit #: 2
Unit Description: 1023 Upper
SqFt: 858
Occupied: Yes
Monthly Rent: 1600
Bathrooms: Yes
Full Baths: Yes
Range/Oven: Yes
Refrigerator: Yes
Sep. Heat System: Yes

Unit 3

Unit #: 3
Unit Description: 1021
SqFt: 1176
Occupied: Yes
Monthly Rent: 1500
Bathrooms: 2
Full Baths: Yes
Half Baths: Yes
Range/Oven: Yes
Refrigerator: Yes
Sep. Heat System: Yes

Location & Property Info

Cross Streets: Hall St and M.L.K. Jr St
Property Sub-Type: 2 to 4 Units
Area: Grand Rapids - G
Municipality: City of Grand Rapids
Ownership Type: Private Owned

Office/Contract Info

Auction or For Sale: For Sale

Remarks & Misc

Public Remarks: Great investment opportunity to own a duplex and single family house right next to each other on two separate parcels. All three units are currently rented month-to-month for $4,450 per month. Electric and gas are individually metered for each unit. Water/sewer is shared for all three units. Certificate of compliance issued by the city until 9/23/2026. Take advantage of the cash flow already established and the possibility to sell the properties separately in the future. Or live in one unit and have the other two units pay the mortgage. 1021 is a 4 bedroom, 1 ½ bathroom single family. 1023 is a upper/lower duplex, each with 2 bedrooms and 1 bathroom. Both buildings have new roofs and attic venting in 2022. Tax information is for both parcels - 41-13-36-380-025 and 41-13-36-380-026.
Legal: E LY 70 FT OF LOT 10 BLK 2* CAULFIELD S SUBDIVISION* OF CAULFIELD S SECOND ADDITION and LOT 10 BLK 2 EXCEPT E LY 70 FT THEREOF* CAULFIELD S SUBDIVISION* OF CAULFIELD S SECOND ADDITION

Util Avail at Street

None: Yes

Utilities Attached

Electricity Connected: Yes
Natural Gas Connected: Yes

Sewer

Public Sewer: Yes

Water

Public Water: Yes

Terms Available

Cash: Yes
Conventional: Yes

Mineral Rights

Unknown: Yes

Exterior Material

Vinyl Siding: Yes

Roofing

Composition: Yes

Heat Source

Natural Gas: Yes

Sale Conditions

None: Yes

Heat Type

Forced Air: Yes

Tenant Pays

Electric: Yes
Gas: Yes

Substructure

Full: Yes

Extras

Sep Electric Meter: Yes
Sep Gas Meter: Yes

Owner Pays

Sewer: Yes
Water: Yes

Possession

Subject To Tenant Rights: Yes

Property Features

Exterior Material: Vinyl Siding Roofing: Composition Substructure: Full Sewer: Public Sewer Water: Public Water Utilities Attached: Electricity Connected; Natural Gas Connected Util Avail at Street: None Extras: Sep Electric Meter; Sep Gas Meter Owner Pays: Sewer; Water Tenant Pays: Electric; Gas Heat Source: Natural Gas Heat Type: Forced Air Mineral Rights: Unknown Terms Available: Cash; Conventional Possession: Subject To Tenant Rights Sale Conditions: None Unit 1: Range Oven; Refrigerator; Sep. Heat System Unit 2: Range/Oven; Refrigerator; Sep. Heat System Unit 3: Range/Oven; Refrigerator; Sep. Heat System

Listing Office: Charter Properties

Listing Agent: Cassandra Beyer

Last Updated: May - 04 - 2026

The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

1021-1023 Sheridan Avenue SW, Grand Rapids, MI 49503 (MLS# 24037018)