# 501 3 Mile Road NE, Grand Rapids, MI 49505

> **TL;DR:** 5bd/0ba residential multi family, $349,900, built 1900.
> A/C. Est. $1,516/mo. Listed 1 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $349,900 |
| Bedrooms | 5 |
| Year Built | 1900 |
| Lot Size | 10,019 sqft (0.23 acres) |
| Property Type | Residential Multi Family (Other) |
| Status | For Sale |
| Days on Market | 1 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $1,516 |
| **Total** | **$1,516** |

## Key Amenities

- A/C

## Property Highlights

- Built in 1900
- 0.23 acre lot
- 5 parking spaces

## Description

### Agent Description
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!

## Location

- **Address:** 501 3 Mile Road NE, Grand Rapids, MI 49505
- **County:** Kent
- **Neighborhood:** Riverside Gardens
- **Coordinates:** 43.01375, -85.65684
- **Google Maps:** https://www.google.com/maps?q=43.01375,-85.65684

## Listing Agent

- **Name:** Justin W Moorehead
- **Brokerage:** Five Star Real Estate (Eastown)
- **Phone:** 6164058429
- **Email:** justin@soldbymoorehead.com

## Primary Photo

![501 3 Mile Road NE - Primary Photo](http://lh.rdcpix.com/40499311ee00227445c7556f3b88b782l-f2855469498r.jpg)

*39 total photos available on [listing page](https://www.propertysimple.com/listing/501-3-mile-road-ne-grand-rapids-mi-49505-26015647)*

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**MLS#:** 26015647 | **Updated:** 2026-04-25
**Source:** listhub

*Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/501-3-mile-road-ne-grand-rapids-mi-49505-26015647)

---

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  "description": "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/m",
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