NOT LISTED FOR SALE

505 La Grave Ave SE Grand Rapids, MI 49503

Southeast Community Association Neighborhood

Estimated Value: $314,000 - $353,443

-- Bed
-- Bath
-- Sq Ft
9,583 Sq Ft Lot

Last Sold November 07, 2023

Last sale price $299,900

Est. 12% increase in value since last sale

Current estimated payment $2,251/month

5 Days on Market

Highlights

  • 1 Fireplace
  • Cooling System Mounted In Outer Wall Opening
  • High Speed Internet
  • Corner Lot: Yes
  • Forced Air Heating System
  • 4-minute walk to Mooney Park

About This Home

As of November 2023

Great 2-unit on a huge lot, in a great location downtown, surrounded by new houses, and blocks away from the hottest up and coming areas of downtown development.

These large units (4beds & 3beds) offer the rare opportunity for a cash-flowing property. Or you can live in one unit and rent out the other while building equity. Come check it out for yourself, both units are vacant and easy to show!

Last Agent to Sell the Property

Mark Krier

616Homes.com LLC License #6501393608 Listed on: 10/06/2023

Co-Listed By

Jamie Krier

616Homes.com LLC License #6501373880

Last Buyer's Agent

Caitlyn Wisniewski

616 Realty LLC License #6506048186

616 Realty LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,072

Year Built

  • Built in 1900

Lot Details

  • 9,583 Sq Ft Lot
  • Lot Dimensions are 80x120x80x120
  • Corner Lot: Yes

Home Design

  • Vinyl Siding

Interior Spaces

  • 1 Fireplace
  • Basement
  • Michigan Basement

Parking

  • 3 Parking Spaces
  • Driveway
  • Paved Parking

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • High Speed Internet
  • Cable TV Available

Community Details

  • 2 Units

Listing and Financial Details

  • Tenant pays for electric, gas
  • The owner pays for sewer

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,072

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1900
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplaces: 1
  • Basement: Michigan Basement

Exterior Features

  • Construction Materials: Vinyl Siding
  • List Price: 299900.0
  • Lot Features: Corner Lot
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Waterfront: No
  • Access Feat:Accessibility Features2: No
  • Driveway Paved: Yes

Garage/Parking

  • Attached Garage: No
  • Parking Features: Concrete, Driveway, Paved
  • Total Parking Spaces: 3.0
  • General Property Info:Total Parking Spaces: 3.0

Utilities

  • Cooling: Wall Unit(s)
  • Cooling: Yes
  • Heating: Forced Air, Natural Gas
  • Heating: Yes
  • Sewer: Public Sewer
  • Utilities: Public Water Available, Public Sewer Available, Natural Gas Available, Electric Available, Cable Available, Broadband Available, Natural Gas Connected, Electric Connected

Lot Info

  • Lot Size Acres: 0.22
  • Lot Size Area: 0.22
  • Lot Dimensions: 80x120x80x120
  • Lot Size Sq Ft: 9583.0
  • Zoning Description: RMSE3
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Sewer
  • Tenant Pays: Electric, Gas

Multi Family

  • Number of Units Total: 2

Tax Info

  • Tax Annual Amount: 3071.58
  • Tax Year: 2023

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 6, 2023
Closed on
Nov 7, 2023
Sold by
U & I Asset Group Llc
Bought by
Lannan Stephanie M
Seller's Agent
Mark Krier
616Homes.com LLC
Buyer's Agent
Caitlyn Wisniewski
616 Realty LLC
List Price
$299,900
Sold Price
$299,900
Total Days on Market
5
Views
9
Current Estimated Value
$337,111

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$37,211
Avg. Annual Appreciation
6.92%
Original Mortgage
$294,467
Outstanding Balance
$290,414
Interest Rate
7.31%
Mortgage Type
FHA
Estimated Equity
$42,947

Purchase Details

Closed on
Nov 1, 2018
Sold by
Cata Rafael B and Cata Mirta
Bought by
U And I Asset Group Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$170,300
Interest Rate
4.6%
Mortgage Type
Commercial

Purchase Details

Closed on
May 1, 2018
Sold by
Cata Rafael B and Cata Rafael
Bought by
U & I Asset Group Llc
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Lannan Stephanie M $299,900 First American Title
U And I Asset Group Llc $150,000 First American Title Ins Co
U & I Asset Group Llc -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lannan Stephanie M $294,467
Previous Owner U And I Asset Group Llc $170,300
Closed U & I Asset Group Llc $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/07/2023 11/07/23 Sold $299,900 0.0% --
10/11/2023 10/11/23 Pending -- -- --
10/06/2023 10/06/23 For Sale $299,900 -- --
Source: Southwestern Michigan Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $4,308 $105,600 $0 $0
2023 $3,232 $91,700 $0 $0
2022 $3,072 $82,100 $0 $0
2021 $2,993 $82,000 $0 $0
2020 $2,893 $69,500 $0 $0
2019 $2,962 $55,500 $0 $0
2018 $893 $45,600 $0 $0
2017 $871 $34,100 $0 $0
2016 $875 $31,200 $0 $0
2015 $834 $31,200 $0 $0
2013 -- $31,000 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2023

    Mark Krier

    616Homes.com LLC

    (616) 275-0173

    1 in this area

    119 Total Sales

    Mark Krier
    Section Image

  • J

    Seller Co-Listing Agent in 2023

    Jamie Krier

    616Homes.com LLC

    (616) 920-1942

    2 in this area

    104 Total Sales

    Jamie Krier
    Section Image
  • Caitlyn Wisniewski

    Buyer's Agent in 2023

    Caitlyn Wisniewski

    616 Realty LLC

    (616) 826-5134

    1 in this area

    360 Total Sales

    Caitlyn Wisniewski
    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 23137376

Southwestern Michigan Association of REALTORS®

APN: 41-14-31-105-026

Michigan Kent County Grand Rapids 49503 Southeast Community Association

505 La Grave Ave SE, Grand Rapids, MI

This home is located at 505 La Grave Ave SE, Grand Rapids, MI 49503 since 06 October 2023 and is currently estimated at $337,111. This property was built in 1900. 505 La Grave Ave SE is a home located in Kent County with nearby schools including Martin Luther King Leadership Academy, Alger Middle School, and Ottawa Hills High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Southwestern Michigan Association of REALTORS® Information is deemed reliable but not guaranteed.
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