**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… Read More 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. Read Less
Courtesy of Bellabay Realty (North), Angela J Worth
Listing Snapshot
Days Online
67
Last Updated
Property Type
Multi Family
Lot Size
0.11 Acres
Year Built
1910
MLS Number
26047950
Additional Details
Property Access
Road Surface: Paved
Basement
Full
Building
Built in 1910, 1 building, Construction Materials: Brick
Heating
Forced Air
Lot
0.11 acres, Dimensions: 42x102, Sidewalk
Owner Pays
Water, Sewer
Parking
4 total parking spaces
Roof
Composition
Taxes
Parcel Number: 411336478006, Annual Amount: $6,239, Assessed Value: $125,600, Legal Description: N 42 FT OF LOT 26 & S 5 FT OF W 75 FT OF LOT 25* NAEGLE S FOURTH ADDITION, Year: 2025, Zoning description: Res Inc
Tenant Pays
Electric, Gas
Utilities
Cable Available, Electricity Connected
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