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549 Logan St SE 5 Unit Apartment Building $825,000 ($165,000/Unit) 4.74% Cap Rate Grand Rapids, MI 49503
Investment Highlights
- Multifamily property containing multiple private units in the Heritage Hill area.
- Positioned in an area with consistent demand for rental housing and adaptive reuse projects.
- Lot accommodates shared parking in a dense, urban neighborhood setting.
Executive Summary
Located in the Heritage Hill neighborhood of Grand Rapids, 549 Logan St SE represents a distinctive multifamily investment opportunity in one of the city’s most recognized historic districts. The property currently consists of multiple units, making it suitable for continued use as an income-generating residential asset or potential adaptive reuse, subject to local zoning. Surrounded by tree-lined streets and established residential developments, the area is known for its architectural character and proximity to downtown.
Residents benefit from convenient access to urban amenities including employment centers, dining establishments, and cultural attractions in central Grand Rapids. This proximity to the city core ensures strong tenant demand and sustained occupancy potential. Positioned within a walkable neighborhood with reliable access to public transportation and key road networks, the property leverages an excellent location for long-term value creation.
Residents benefit from convenient access to urban amenities including employment centers, dining establishments, and cultural attractions in central Grand Rapids. This proximity to the city core ensures strong tenant demand and sustained occupancy potential. Positioned within a walkable neighborhood with reliable access to public transportation and key road networks, the property leverages an excellent location for long-term value creation.
Property Facts
| Price | $825,000 | Building Class | C |
| Price Per Unit | $165,000 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 3,807 SF |
| Cap Rate | 4.74% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1905 |
| Property Subtype | Apartment | Parking Ratio | 0.8/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | TN-LDR | ||
| Price | $825,000 |
| Price Per Unit | $165,000 |
| Sale Type | Investment |
| Cap Rate | 4.74% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 3,807 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1905 |
| Parking Ratio | 0.8/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | TN-LDR |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Controlled Access
- Smoke Free
- Walking/Biking Trails
- Wi-Fi
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 600 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 41-14-31-204-019 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $295,500 |
Property Taxes
Parcel Number
41-14-31-204-019
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$295,500
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549 Logan St SE
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