Historic GR buildings as Airbnbs hit market for $1.75M

Two historic downtown Grand Rapids buildings generating more than $150,000 annually as Airbnbs have hit the market for just under $1.75 million. Ryan Ogle and Jodi Smith, brokers with EXP Realty, have the listing for two buildings operating as short-term rentals at The Inn on Jefferson in downtown Grand Rapids, on Jefferson Avenue just south of Fulton Street. The sellers declined to be named in this article for privacy reasons. The listing includes a 4,577-square-foot house and a converted 3,300-square-foot former warehouse, each of which has two distinct guest suites. Together, the two buildings offer nine bedrooms that can accommodate 15-20 people. The brokers said the property currently generates annual gross rents of $157,832.32 based on an average booking rate of two nights per week. The sellers make about $63,052 in annual net operating income, which could double if the buyers increase to four nights of bookings. The property’s hotel license is good through February 2026 and can be renewed annually after that. The properties are billed as “luxury” suites in a prime location walkable to downtown. Read more here: https://lnkd.in/gKQmagpU

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