Improving areas of Grand Rapids? (best neighborhoods, real estate, condos)

[C-U]

I am considering moving to GR and want to know the best neighborhoods for real estate investment potential. I am seeing some really cheap houses in GR that seem too good to be true. They seem to be all over the central city. What areas are up and coming? What areas are down and out? I can do all kind of rehabbing so a dump in a better neighborhood is more attractive to me than a nicer house in a bad neighborhood. I would live in the house for awhile so safety is a bit of a concern. However, I am a single male and not afraid of much. I would want to avoid gang-controlled neighborhoods if that is an issue for GR.

[magellan]

Originally Posted by C-U

I am considering moving to GR and want to know the best neighborhoods for real estate investment potential. I am seeing some really cheap houses in GR that seem too good to be true. They seem to be all over the central city. What areas are up and coming? What areas are down and out? I can do all kind of rehabbing so a dump in a better neighborhood is more attractive to me than a nicer house in a bad neighborhood. I would live in the house for awhile so safety is a bit of a concern. However, I am a single male and not afraid of much. I would want to avoid gang-controlled neighborhoods if that is an issue for GR.

I would flip it around. There are basically two areas I'd stay clear of. The near Southeast side and the near Southwest side. The Grand Rapids Police Department has a feature on their website that shows crime pockets, and those areas consistently rank high. The rest of GR is fine.

http://www.ci.grand-rapids.mi.us/index.pl?page_id=6274

[C-U]

I understand the rationale for looking at bad areas to avoid but that does not really answer my question. Maybe I should phrase it another way....... Where are the new hot areas of the city? I am looking for the area with good investment potential. It does little good to rehab a house in a decent area that is stagnant. I am looking for the area(s) where people are moving in, investing money, and improving the neighborhood. Thanks!

[mich2fla]

Alger Heights and East Town are the areas I would invest in if I were to live in the city of Grand Rapids.

[suydam]

I'd look at East Hills if you're looking for the new "hot" area.... but that's been hot for a few years now.

Downtown has been the hottest in terms of development of condos, but the profit potential is lacking in my opinion (I'd live there, but I wouldn't be looking to flip a condo any time soon).