Address
27 Colfax Street Ne, Grand Rapids, MI
Price
$ 499,000
Property Attributes
- MLS#26049304
- Type
- Listing Status Active
- CountyKENT
- CityGrand Rapids
- AreaCity of Grand Rapids
- NeighborhoodCity of Grand Rapids
- Zip49505
- Style2 to 4 Units
- Year Built1875
- Taxes$ 4441
- Price$ 499,000
- Bedrooms0
- Full Bathrooms4
- Half Bathrooms0
- Lot Size0.16 Acres
Data Source:
Michigan Regional Information Center (MICHRIC)
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
| Price History | |
|---|---|
| 9/16/2026 | Listed $499,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Forced Air |
| Utilities | Natural Gas Available,Electricity Available,Natural Gas Connected,Electricity Connected |
| Possession | Close Of Escrow |
| Roof | Composition |
| Construction Materials | Aluminum Siding |
| Year Built | 1875 |
| Tenant Pays | None |
| Township | City of Grand Rapids |
| Property Subtype | 2 to 4 Units |
| Tax Year | 2025 |
| OwnerPays | None |
| County | Kent |
| New Construction | No |
| Property Type | Multi Family |
| Status | Active |
| City | Grand Rapids |
| High School District | Grand Rapids |
| Zoning Description | Residential |
| Number Of Units Total | 4 |
| Lot Size Units | Acres |
| Lot Size Square Feet | 6752.0 |
| Listing Terms | Cash,Conventional |
| Land Lease Y/N | No |
| Tax Annual Amount | 4441.0 |
| Lease Renewal Y/N | No |
| Additional Parcels Y/N | No |
| Rent Control Y/N | No |
| Standard Status | Active |
| Occupancy Type | Tenant |
| Tax Assessed Value | 89413 |
| MobileHomeRemainsYN | No |
| Legal Description | E 3/4 OF LOT 21* SUBDIVISION OF LOT 102 COIT & CURTIS PARTITION PLAT |
| Senior Community | None |
Interior Features
| Basement | Other |
|---|---|
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Laundry Features | Common Area,Laundry Room |
| Total Baths | 4 |
Exterior Features
| Lot Features | Sidewalk |
|---|---|
| Total Parking | 4.0 |
| Lot Size Area | 0.16 |
| Number of Buildings | 1 |
| Spa | No |
| Lot Dimensions | 50*135 |
| Lot Size Acres | 0.16 |
| Waterfront Y/N | No |
| Crops Included Y/N | No |
| Horse Y/N | No |
| Irrigation Water Rights Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Average in 49505
Price
Taxes
Year Built
Visits
Listing information is provided by Participants of the MichRIC MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. ©: MichRIC MLS. Last Update September 23, 2026 1:56 PM UTC
