4-unit value-add opportunity in Riverside Gardens with immediate upside for the next owner. Strong rental location, long-term ownership, and flexible unit mix including (2) 2-bedroom units, (1) 1-bedroom unit, and (1) studio, all with 1 bath. Two units currently occupied, all month-to-month. Largest 2-bedroom unit is vacant with new carpet, creating an immediate opportunity for lease-up, owner occupancy, or renovation. Current rents have been conservatively managed at approximately $800-$1,100/month, previously totally $4,000/month,, while leaving room for increased income through improved management and updates. Property includes 1 forced air furnace, 3 wall furnaces, 4 gas meters, 4 water heaters, and 2 electrical panels. Primary roof replaced approximately 7-8 years ago. Seller recently secured 6yr rental certification. Detached garage needs re-work but good potential for covered tenant parking and storage. Strong fit for value add, long term investors. Top notch location!
Sold
$360,000
501 Three Mile Rd NE, Grand Rapids, MI 49505
5beds
4baths
2,850sqft
2 to 4 Units
Built in 1900
-- sqft lot
$356,300 Zestimate®
$126/sqft
$1,391 Estimated rent
Home value
$356,300
$338,000 - $374,000
$1,391/mo
Zestimate® history
Owner options
List your home for rent
$1,391/mo
Rent Zestimate®
Find your next renter with Zillow Rental Manager. Plus, with online applications, you can quickly screen prospective tenants – for free.
$1,391/mo
Rent Zestimate®
Refinance and save
$2,286/mo
Est. payment
Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.
$2,286/mo
Est. payment
Explore your selling options
Work with a Zillow partner agent
Leverage their expertise and Zillow's premium Showcase listings to get your home seen by more buyers.
Get startedList with your own agent
Get your home in front of millions of buyers by listing it on Zillow.
Learn how to do itSell it yourself
Take full control of how buyers see your home on Zillow by listing For Sale by Owner (FSBO).
List your homeWhat's special
Detached garageForced air furnace
Zillow last checked:
Listing updated:
Listed by:
Justin W Moorehead 616-405-8429,
Five Star Real Estate (Eastown)
Bought with:
Angela M Norton, 6501467646
United Realty Services LLC
Source: MichRIC,MLS#: 26015647
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 4
Heating
- Forced Air, Wall Furnace
Cooling
- Window Unit(s)
Features
- Basement: Full
Interior area
- Total interior livable area: 2,850 sqft
Property
Parking
- Total spaces: 5
- Parking features: Asphalt, Driveway, Concrete
Lot
- Size: 10,018 Square Feet
- Features: Corner Lot
Details
- Parcel number: 411406457018
- Zoning description: Residential
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 2 to 4 Units
Materials
- Vinyl Siding
- Roof: Composition
Condition
- New construction: No
- Year built: 1900
Utilities & green energy
- Sewer: Public Sewer, Storm Sewer
- Water: Private
- Utilities for property: Phone Available, Natural Gas Available, Electricity Available, Cable Available, Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected
Community & HOA
Community
- Subdivision: Riverside Gardens
Location
- Region: Grand Rapids
Financial & listing details
- Price per square foot: $126/sqft
- Tax assessed value: $75,510
- Annual tax amount: $3,898
- Date on market: 4/15/2026
- Listing terms: Cash,Conventional
- Tenant pays: None
- Electric utility on property: Yes
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 5/14/2026 | Sold | $360,000+2.9%$126/sqft |
Source:  MichRIC #26015647 Report a problem | ||
| 4/20/2026 | Pending sale | $349,900$123/sqft |
Source: MichRIC #26015647 Report a problem | ||
| 4/15/2026 | Listed for sale | $349,900$123/sqft |
Source: MichRIC #26015647 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | -- | $167,000 +46.6% |
| 2021 | $3,321 | $113,900 +4.5% |
| 2020 | $3,321 +3.2% | $109,000 +19.3% |
| 2019 | $3,220 | $91,400 +22.2% |
| 2018 | -- | $74,800 +13.3% |
| 2017 | $3,156 | $66,000 +8.9% |
| 2016 | $3,156 | $60,600 |
| 2015 | $3,156 +5% | $60,600 -4.3% |
| 2013 | $3,007 | $63,300 -16.8% |
| 2011 | -- | $76,100 -0.1% |
| 2010 | -- | $76,200 -1.6% |
| 2009 | -- | $77,400 +5% |
| 2007 | -- | $73,700 +32.3% |
| 2006 | -- | $55,686 +3.7% |
| 2005 | -- | $53,700 +3.3% |
| 2004 | -- | $51,985 +6.2% |
| 2002 | -- | $48,941 +3.2% |
| 2001 | -- | $47,424 |
Find assessor info on the county website
Neighborhood: Creston
Nearby homes
- $41,600-- bd-- ba-- sqft513 Three Mile Rd NE, Grand Rapids, MI 49505Off Market
- $350,0003 bd2 ba1.8k sqft2810 Coit Ave NE, Grand Rapids, MI 49505Sold
- $302,200-- bd1 ba1.1k sqft523 Three Mile Rd NE, Grand Rapids, MI 49505Off Market
- $257,6002 bd1 ba824 sqft527 Three Mile Rd NE, Grand Rapids, MI 49505Off Market
- $253,7002 bd1 ba824 sqft527 3 Mile Rd NE, Grand Rapids, MI 49505Off Market
- $331,100-- bd2 ba1.4k sqft2820 Coit Ave NE, Grand Rapids, MI 49505Off Market
- $266,2003 bd1 ba1k sqft2821 Coit Ave NE, Grand Rapids, MI 49505Off Market
- $526,200-- bd-- ba-- sqft2805 Coit Ave NE, Grand Rapids, MI 49505Off Market
Nearby schools
GreatSchools rating
- 3/10Aberdeen Elementary SchoolGrades: PK-8Distance: 0.8 mi
- 9/10City High Middle SchoolGrades: 7-12Distance: 1.5 mi
- 2/10Riverside Middle SchoolGrades: 6-8Distance: 0.7 mi
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$356,300
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$356,300
- Michigan
- Kent County
- Grand Rapids
- 49505
- Creston
- 501 Three Mile Rd NE
Nearby cities
Nearby neighborhoods
Nearby zip codes
Other Grand Rapids Topics
