27 Colfax Street, City of Grand Rapids, Michigan 49505
$499,000
Property Details
- MLS#: 65026049304
- Bedrooms: N/A
- Bathrooms: N/A
- Square Feet: N/A
- Lot Size: N/A
- Year Built: 1875
- Property Type: ResidentialIncome
- Status: Active
Tax and Assessment Information
Assessment evidence unavailable.
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
Location
This property is located in City of Grand Rapids, Michigan. City of Grand Rapids is part of the Metro Detroit area, offering convenient access to employment, schools, shopping, and recreation.
Frequently Asked Questions
What is the price of 27 Colfax Street?
27 Colfax Street is listed at $499,000.
How many bedrooms does 27 Colfax Street have?
This property has N/A bedrooms and 0 bathrooms.
Schedule a Showing
Interested in this property? Contact Sonic Realty to schedule a private showing. Our experienced agents can help you navigate the home buying process.
Phone: (313) 484-4696
Email: [email protected]