Local full service investment firm Investors Equity Group has purchased the 44-unit Hopson Flats in Grand Rapids, Michigan, from a private investor for $8 million, or about $190,000 per unit.

The five-story building at 212-216 Grandville Ave. SW includes a mix of two-, three- and four-bedroom units ranging from 930 to 1,545 square feet. Built in 1905 and renovated in 2007, the property spans half an acre near the Grand Rapids train station.

Al Beachum with Income Property Organization represented both the buyer and seller in the transaction.

For additional information regarding this transaction, please refer to CoStar COMPS #4999514.