For Sale

Listed by Timothy VandenToorn from United Realty Services LLC

Source: Multiple Listing Service MiRealSource #70558971

27 Colfax St NE, Grand Rapids, MI, 49505

$499,000

3082 sq. ft.
0.16 ac.

MultiFam

•

1 day on the market

What's around 27 Colfax St NE

About this property

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

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