834 Sherman St SE - Apartments FOR SALE


Grand Rapids, MI 49506- Baxter
$525,000 USD
734-602-5700
834 Sherman St SE, Grand Rapids, MI for Sale
$525,000 USD
Apartments - FOR SALE
1/9
null | 5.99% Cap Rate

834 Sherman St SE
Grand Rapids, MI 49506
Baxter


HIGHLIGHTS

  • Fully occupied quadplex situated five minutes from Downtown Grand Rapids and major employment centers.
  • Recent interior updates include luxury vinyl flooring, granite countertops, and modern cabinetry.
  • Located near East Hills and Madison neighborhoods, providing proximity to retail, dining, and cultural amenities.
  • Consistent occupancy history with in-place NOI of $31,440 annually.
  • Four dedicated parking spaces and accessible neighborhood positioning improve tenant convenience.
  • Well-maintained brick exterior and two-story configuration with updated building systems enhance long-term value.

OVERVIEW

Well-maintained 4-unit apartment building located at 834 Sherman St SE in Grand Rapids. The property is 100% occupied and features a desirable unit mix of two (2) 2-bedroom/1-bath units and two (2) 1-bedroom/1-bath units, providing strong and diversified rental income. Built in 1855, this property offers historic character with functional layouts and includes landlord-owned shared laundry in the basement, creating an additional income opportunity. Tenants benefit from on-site parking and a central location with convenient access to downtown, major employers, universities, and public transportation. Located in the Baxter neighborhood, the asset is positioned in a high-demand rental area near amenities, dining, and employment centers, supporting long-term occupancy and rent growth.

FOR SALE DETAILS

PRICE

$525,000 USD

PRICE/SF

$131 USD /SF

# OF UNITS

4

PRICE/UNIT

$131,250

CAP RATE

5.99%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1855

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

TN-LDR

APN/PARCEL ID

41-14-32-151-008

ASK ABOUT THIS PROPERTY

Stewart BealBeal Real Estate LLCMore Info
734-602-5700

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Stewart BealBeal Real Estate LLCMore Info
734-602-5700

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.