Former Senior Housing/Independent Living Facility in Grand Rapids MSA
Appraised at $4,860,000 in 2020
84 Unit Facility on 6+/- Acres – Ample Parking & Room for Expansion
Zoned Residential District (R-4) - Variety of Residential and Medical Allowable Uses
Grand Rapids MSA is Fastest Growing Population Center in Michigan
Residential unit on site
This 42,000 +/- sq. ft. facility most recently operated as an 84 unit, 92 bed senior housing and independent living facility. The convenient layout lends itself to many residential uses for both medical and investment purposes. Each unit contains a studio apartment configuration with a private bath perfectly suited for individual rentals, student housing, or even conversion to condominiums or multi-family. Many units have private decks ideal for hosting friends or family and outdoor enjoyment in a wooded setting. In addition to the main buildings, there is also a single-family home on the property that could easily be converted to a duplex for income maximization, or well suited for onsite administrative living accommodations if facility is utilized for inpatient medical care.
Lot Size: 6.12+/- acres
Year Built/Remodeled: 1987, all 3 buildings renovated in 2019
Parcel ID#: 41-17-16-426-047, 41-17-16-42
2019 Tax Assessment (SEV): $1,680,600*
2019 True Cash Value: $3,361,200*
*Taxes are based on the lower Taxable Value
Please be sure to download the Property Information Package by clicking on the words above under “DOCUMENTS.” By downloading this package you will alert Tranzon Fox to your interest in this property and you will receive emails with any updates on this auction. The package contains information needed to participate in bidding at auction. A signed Confidentiality Agreement is required to download.