Address
27 Colfax Street Ne, Grand Rapids, MI
Price
$ 499,000
Property Attributes
- MLS#26049304
- TypeMulti-Family
- 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 Multi-Family 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 22, 2026 12:33 AM UTC
Northern Great Lakes REALTORS® MLS All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
