Sold

$275,000

507 Union Ave SE, Grand Rapids, MI 49503

7beds

2baths

2,450sqft

2 to 4 Units

Built in 1895

-- sqft lot

$434,100 Zestimate^®

$112/sqft

$2,120 Estimated rent

Home value

$434,100

$391,000 - $482,000

$2,120/mo

Zestimate^® history

Owner options

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$2,120/mo

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$2,120/mo

Rent Zestimate^®

Refinance and save

$1,761/mo

Est. payment

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$1,761/mo

Est. payment

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What's special

Great investment opportunity!Historic Heritage Hill 2-unit property, needs repair but priced accordingly. The lower unit features 2 bedrooms, large living room and dining room and fireplace. The upper unit has 5 bedrooms. There are two coin operated washer and dryers in the basement, 2 additional showers, a new water heater, and plenty of storage space. Tenants currently rent by the room on a weekly basis. 24 hour notice required; showings Tuesday - Sunday, 9am-3pm only. Seller directs listing agent to hold all offers until Friday 8/23/24 at noon.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 7
Bathrooms: 2

Heating

Forced Air

Appliances

Laundry: In Basement, See Remarks

Features

Basement: Michigan Basement

Interior area

Total interior livable area: 2,450 sqft

Property

Parking

Total spaces: 2

Lot

Size: 6,098 Square Feet
Dimensions: 50 x 125

Details

Parcel number: 411431208020
Zoning description: RES-IMP

Construction

Type & style

Home type: MultiFamily
Property subtype: 2 to 4 Units

Materials

Wood Siding

Condition

New construction: No
Year built: 1895

Utilities & green energy

Utilities for property: Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected

Community & HOA

Location

Region: Grand Rapids

Financial & listing details

Price per square foot: $112/sqft
Tax assessed value: $50,212
Annual tax amount: $2,489
Date on market: 8/19/2024
Listing terms: Cash,Conventional
Tenant pays: None
Electric utility on property: Yes

Price history

Date	Event	Price
9/23/2024	Sold	$275,000+22.2%$112/sqft
Source: MichRIC #24043364 Report a problem
8/25/2024	Pending sale	$225,000$92/sqft
Source: MichRIC #24043364 Report a problem
8/19/2024	Listed for sale	$225,000$92/sqft
Source: MichRIC #24043364 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$2,604	$209,800 +5.2%
2024	--	$199,500 +36.1%
2021	$2,277	$146,600 +8.9%
2020	$2,277 +3.2%	$134,600 +12%
2019	$2,207	$120,200 +16.9%
2018	--	$102,800 +9.4%
2017	$2,231	$94,000 +16.9%
2016	$2,231	$80,400
2015	$2,231 +8.2%	$80,400 +9.7%
2013	$2,062	$73,300 -15.5%
2011	--	$86,700 -4.2%
2010	--	$90,500 -2.7%
2009	--	$93,000 +32.7%
2007	--	$70,100 +104.3%
2006	--	$34,309 +3.7%
2005	--	$33,085 +3.3%
2004	--	$32,029 +6.2%
2002	--	$30,154 +3.2%
2001	--	$29,219