3253 Charlesgate Ave SW - 3275 & 3253 Charlesgate Ave SW 8 Unit Apartment Building Offered at $995,000 Wyoming, MI 49509

Pantheon Commercial is pleased to present the Charlesgate Portfolio, a two-building, 8-unit multifamily offering across two adjacent parcels in Wyoming, Michigan. 3253 Charlesgate Ave SW and 3275 Charlesgate Ave SW are brick 4-plex apartment buildings, each with four 2-bedroom apartment units, combining for 6,504 SF of rentable area on 0.567 acres. The portfolio is 100% occupied on the 8/1/26 rent roll with $8,580 in monthly in-place gross rent ($102,960 annualized) following the recent lease-up of Suite C at 3253 Charlesgate at $1,250 per month.
The offering is priced at $995,000, or $124,375 per door, which is in line with the $122,056 average across six recent Wyoming/Kent County multifamily sale comparables within a two-mile radius of the subject. In-place rents across the portfolio range from $950 to $1,250 per month with a $1,073 average per door; the new Suite C lease at $1,250 sets a new high water mark for the portfolio and provides a clear reference point for future lease renewals and mark-to-market execution.
Wyoming is the fifth-largest city in Michigan and the largest suburb of Grand Rapids, sitting directly southwest of the Grand Rapids core along US-131 and M-6. The submarket is one of the primary affordable workforce housing markets in Kent County, anchored by Grand Rapids MSA employment across healthcare, manufacturing, and education. Kent County multifamily vacancy has remained below the Michigan average through the past several cycles.