Investment Overview

Marcus & Millichap is pleased to present the GRH Portfolio, an 81-unit portfolio in the Grand Rapids, Michigan MSA. 53 of the units (“Byron + Taft”) are in Wyoming, MI, a suburb of Grand Rapids. The remaining 28 units (“Lincoln Ave”) are less than 30 minutes away in Holland, MI. Grand Rapids, MI is a vibrant city blending small-town charm with big-city energy. Known for its thriving arts scene, including ArtPrize and world-class museums, it also boasts craft breweries, scenic riverfront trails, and a bustling economy. The apartment market is highly competitive, with a tight supply and strong demand driving a robust rental scene. As of April 2025, the average rent is $1,431. The current average rent across the GRH portfolio is $1,021. Byron + Taft consists of two properties in Wyoming, MI just 4 minutes apart. The unit-mix across these two properties is highly desirable: thirty-four 2-bed/1.5-bath units, thirteen 2-bed/1-bath units, and six 1-bedroom units. The average unit size is 869 square feet, and the in-place average rent is only $997. Rents are projected to be at least ~10% under-market. Lincoln Ave consists of two properties in Holland, MI, 956 & 863 Lincoln Ave, which are only 1 minute apart. The unit-mix across these two properties is twenty-seven 2-bed/1.5-bath units, and one 3-bed/1.5-bath house (857 Lincoln Ave). The average unit size is 814 square feet, and the in-place average rent is only $1,067. Based on rents already achieved at the properties, the in-place rents are approximately 16% under-market. The Grand Rapids, MI economy is diverse, thriving on healthcare (Corewell Health employers over 25,000 in Western Michigan), manufacturing (notably furniture, with global leaders like Steelcase and Herman Miller), information technology, automotive, aviation, and consumer goods. Fred Meijer Corporate Headquarters are located in the Grand Rapids suburb of Walker, MI, and the corporate headquarters of Gordon Food Service are located in Wyoming, MI. Grand Rapids has been ranked among the fastest-growing U.S. economies, with West Michigan’s economy growing at twice the national rate in 2023, according to Grand Valley State University. The GRH Portfolio presents the prospective investor with the opportunity to obtain 81 apartment units in one of Michigan’s best markets, with strong potential to raise rents and increase cash-flow.