556 Lafayette Avenue
Grand Rapids, MI 49503

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Description

Heritage Hill character with real flexibility. This home works well for someone looking to live in one portion and rent the other, operate as an income property, or bring it back to a spacious single-family home. The main level blends natural light and original charm with everyday function, featuring a comfortable living room, formal dining area, and an updated kitchen, bathroom, and bedrooms that make daily living easy. Upstairs, you'll find a separate three-bedroom unit with its own kitchen, dining area, and spacious living room, currently rented for $1,750 per month to long-term tenants. Each unit has its own laundry. Off-street parking with multiple spaces adds to the practicality, and the location places you in the heart of Heritage Hill, close to downtown, parks, and local favorites. The fenced front yard is perfect for pups, and the wraparound porch offers a great place to sit and enjoy a beautiful day. This home gives you flexibility without overcomplicating the path forward.

Features

• Property Type: Multi Family Home
• Sub Type: 2 to 4 Units
• Listing Status: Active
• County/Area: Kent County
• Zip Code: 49503
• Year Built: 1890
• School District: Grand Rapids
• Units: 2 units
• Basement: Full, Yes, Yes
• # of Parking Spaces: 5
• Lot Size: 7231 sq ft lot
• Annual Utilities: 7999.78
• Construction Materials: Wood Siding
• Cooling: Window Unit(s)
• Cross Street: Wealthy and Lafayette
• Driveway: Gravel, Other
• Exclusions: All staging furniture and mirrors to be excluded from the sale. Bathroom mirror to be replace prior to close.
• Gross Income: 43869.22
• Heat Source: Natural Gas
• Heat Type: Forced Air
• Heating: Forced Air
• Insurance Expense: 3000
• Laundry Features: Gas Dryer Hookup, Sink, In Basement, In Unit, Upper Level
• Lot Description: Level, Sidewalk
• Lot Features: Level, Sidewalk
• Lot Size Area: 0.17
• Lot Size Square Feet: 7231
• Lot Size Units: Acres
• Main Type: Multi Family
• Maintenance Expense: 11772.5
• Manager Expense: 1747.5
• Number Of Buildings: 1
• Number Of Diff Unit Floor Plans: 2
• Operating Expense: 32504.24
• Owner Pays: Sewer, Trash Collection, Water
• Parcel Number: 41-14-31-134-012
• Parking Features: Gravel
• Possession: Close Of Escrow
• Road Frontage: 50
• Road Surface Type: Paved
• Roof: Other, Composition
• SEV: 177200
• Sewer: Public Sewer
• SourceMLSURL: https://sourcemls.org/api/v1/eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJTb3VyY2VTeXN0ZW1JRCI6IlQwMDAwMDAwNiIsIkxpc3RpbmdJRCI6IjI2MDE3MzE0IiwiU3RhbmRhcmRTdGF0dXMiOiJBY3RpdmUiLCJNb2RpZmljYXRpb25UaW1lc3RhbXAiOiIyMDI2LTA0LTIzVDEyOjQwOjMyLjAwMFoiLCJMaWNlbnNlZUlEIjoib2F1dGgyXzE1NjM0IiwiTGljZW5zZWVOYW1lIjoiaUhPVVNFd2ViLCBJbmMuIn0.BRlTSIUQxSDAI-lxaiRI_JsQ7JN2SdO8pLIA6wz-gs0/badge
• Spec Assessment Ty: None Known
• Street Type: Paved, Public
• Tax Annual Amount: 7226.14
• Tax Legal Description: LOT 23 BLK 4* J PENNEY S ADDITION* BEING PART OF E 1/2 OF NW 1/4 SEC 31-7-11
• Tax Year: 2025
• Tenant Pays: Electricity, Gas
• Terms Available: Assumable, Cash, Conventional, FHA, MSHDA, VA Loan
• Township: City of Grand Rapids
• Util Availat Street: High Speed Internet, Cable Available, Electricity Available, Natural Gas Available, Storm Sewer, Phone Available
• Utilities: Natural Gas Connected, Cable Available, Electricity Available, Natural Gas Available, Storm Sewer, Phone Available
• Water Access: No
• Water Source: Public Water
• Zoning Description: RMHH2