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Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

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27 Colfax St NE , Grand Rapids, MI 49505
$499,000
Est. Payment: $1,108.89/mo
0 Bed
4 Bath
0 Sqft
Status: Active | Days on site: 1
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House 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

Highlights

Listed by Timothy J VandenToorn , 616-450-6018 United Realty Services LLC , 616-965-2304.

Property Type

Multi-Family

Lot/Acreage
0.16

Year Built

1875

County

Kent

School District

Grand Rapids

Listing ID

26049304

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:4
  • Full Bathrooms:

Exterior Features

Lot:Sidewalk
Garage Capacity:4
Roof:Composition
Sewer:Public Sewer
Principal Interest
$1,109
Taxes
$370

Home Price

$499,000

Loan Details

30 yrs
%

Down Payment

20%
$99,800
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Monthly Price:
$1,108.89

Principal

Taxes

Principal Taxes HOA Total
Monthly $1,108.89 $370.08 $0.00 $1,478.97
Yearly $13,306.67 $4,441.00 $0.00 $17,747.67
Total $399,200.00 $133,230.00 $0.00 $532,430.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Grand Rapids, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.