27 Colfax Street NE, Grand Rapids, MI 49505
- $499,000
- 4
- BA
- List Price
- $499,000
- Days on Market
- 1
- MLS#
- 26049304
- Status
- ACTIVE
- Type
- Multifamily
- Bathrooms
- 4
Property Description
Excellent investment opportunity in growing NE Grand Rapids! This City-certified 4-unit multifamily property is 100% occupied with great tenants and all leases secured through July 2027, providing immediate cash flow and a smooth transition for the next owner. Current gross rents total $5,005/month ($60,060 annually), putting the property right around the desirable 1% rent-to-price benchmark. Many updates have been completed throughout the units, making this a strong addition to an investor's portfolio. The property also features a large backyard, alley access, and street frontage. With established tenants, strong current rents, City certification until 09/08/2029, and long-term leases already in place, this is an attractive opportunity to acquire a stabilized income-producing property in NE Grand Rapids with future upside. Professional Property Management available making this an easy all around acquisition. 24 hr notice required- Submit pre-approval to listing agent prior to showing
Additional Information
- Owner Pays
- None
- Taxes
- $4,441
- Acres
- 0.16
- Basement
- Other
- Heating
- Forced Air
- Roofing
- Composition
- School District
- Grand Rapids
- Sewer
- Public Sewer
- Tenant Pays
- None
- Total Parking Spaces
- 4
- Utilities
- Natural Gas Connected, Electricity Connected, Electricity Available, Natural Gas Available
- Water
- Public Water
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Listing courtesy of Listing Agent: Timothy J VandenToorn from Listing Office: United Realty Services LLC.
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