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1298 Colfax Avenue

Fair Plain MI 49022

6384 sq. ft.
1.69 ac.
Multi-Family
Currently for sale - view listing

Overview

Exceptional investment opportunity featuring two separate rental buildings with multiple income streams and excellent value-add potential. The front building offers two 2-bedroom, 1-bath apartments, with the upper unit currently leased at $900 per month and the lower unit vacant, providing the opportunity for immediate rental income or owner occupancy. The rear building consists of six individual rental rooms, with a shared kitchen, full bath, separate half bath, and on-site laundry facilities. All rear units are currently vacant, giving a new owner the flexibility to establish market rents and select new tenants from the start. Numerous recent improvements have already been completed, including exterior updates to the front building, a partial roof replacement on the front, a new roof on the rear, new sewer line, updated kitchen and bathroom in the upper apartment, updated electrical and furnace in the rear building, along with exterior repairs. Don't miss this opportunity!

Features

6384 sq. ft. floor area
1.69 ac. lot size
Multi-Family

Property history for 1298 Colfax Avenue

2023
Sold
$140,000
30 Aug 2023 by Ben Stephen, of Cressy & Everett Real Estate - Dowagiac

Happy sellers in Fair Plain

92%
92% of sellers in Fair Plain reported that their sale price either exceeded or met their price expectations.

Fair Plain stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 5 reviews in Fair Plain over the last 12 months.

Local market activity for multi families in Fair Plain

In the last 12 months, 9 multi families similar to 1298 Colfax Avenue, have been sold.

This represents a 20% increase in multi families sales when compared to the previous 12 months.

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