$399,900
Grand Rapids, MI 49504
MLS# 26048778
1 / 36
Property Description
Welcome to 127 Lexington, this is 3 Unit Multi Family that would be great for owner occupied or an investor! Building had new siding and roof installed in 2016. Each unit has separate furnace inside unit and separate electric. Tenants pay electric, owner pays for Natural Gas, Water and Trash. Property shows very well and has long term tenants. Ample parking off the alley or on the street.
Details
Location & Property Info
Cross Streets: Watson/Butterworth
Property Sub-Type: 2 to 4 Units
Municipality: City of Grand Rapids
Ownership Type: Private Owned
Office/Contract Info
Auction or For Sale: For Sale
List Price/SqFt: 210.92
General Property Info
New Construction: No
Lot Dimensions: 50x122
Road Frontage: 50
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2031-08-11
Waterfront: No
Basement: Yes
Total # Units: 3
# of Diff Unit Floor Plans: 3
Total # Bldgs: 1
Total Approx. SqFt All Bldgs: 1896
Total Parking Spaces: 4
School District: Grand Rapids
Association YN: No
Lot Measurement: Acres
Lot Square Footage: 6100
Lot Acres: 0.14
Year Built: 1880
Tax Info
Taxable Value: 41636
SEV: 153500
For Tax Year: 2026
Seller's Annual Property Tax: 2137
Tax Year: 2026
Homestead %: 0
Spec Assessment & Ty: NK
Zoning: Res-Imp
Tax ID #: 41-13-25-307-022
Remarks & Misc
Public Remarks: Welcome to 127 Lexington, this is 3 Unit Multi Family that would be great for owner occupied or an investor! Building had new siding and roof installed in 2016. Each unit has separate furnace inside unit and separate electric. Tenants pay electric, owner pays for Natural Gas, Water and Trash. Property shows very well and has long term tenants. Ample parking off the alley or on the street.
Legal: LOT 12 BLK 9* CONVERSE & TOLFORD S ADDITION
Lot Description
Level: 1
Sidewalk: 1
Income and Expenses
Annual Insurance: 1667
Annual Maintenance: 500
Annual Mgmt. Fees: 0
Annual Utilities: 2603
Gross Op. Inc.: 33900
Net Operating Income: 30797
Operating Expense: 3103
Street Type
Gravel: 1
Paved: 1
Util Avail at Street
Cable Available: 1
Electricity Available: 1
High Speed Internet: 1
Natural Gas Available: 1
Phone Available: 1
Public Sewer: 1
Public Water: 1
Storm Sewer: 1
Utilities Attached
Electricity Connected: 1
Natural Gas Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
FHA: 1
Mineral Rights
Unknown: 1
Laundry Features
Common Area: 1
Exterior Material
Vinyl Siding: 1
Roofing
Composition: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Forced Air: 1
Air Conditioning
Window Unit(s): 1
Access Feat
Accessibility Features: No
Tenant Pays
Electric: 1
Driveway
Aggregate: 1
Substructure
Crawl Space: 1
Michigan Basement: 1
Partial: 1
Extras
Sep Electric Meter: 1
Owner Pays
Gas: 1
Trash Collection: 1
Water: 1
Unit 1
Unit #: 1
Unit Description: Efficiency
Identical Units: 1
SqFt: 400
Occupied: Yes
Monthly Rent: 800
Bathrooms: 1
Full Baths: 1
Range Oven: 1
Refrigerator: 1
Sep. Heat System: 1
Washer/Dryer: 1
Unit 2
Unit #: 2
Unit Description: Unit 2.Main Level.1b
Identical Units: 1
SqFt: 700
Occupied: Yes
Monthly Rent: 925
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Range/Oven: 1
Refrigerator: 1
Sep. Heat System: 1
Washer/Dryer: 1
Unit 3
Unit #: 3
Unit Description: Upper Unit.2bed
Identical Units: 1
SqFt: 797
Occupied: Yes
Monthly Rent: 1100
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Range/Oven: 1
Refrigerator: 1
Washer/Dryer: 1
Possession
Subject To Tenant Rights: 1
Location Property Info
County: Kent
Street #: 127
Street Name: Lexington
Suffix: Avenue
Post Direction: SW
State: MI
Zip Code: 49504
OfficeContract Info
Status: Active
Current Price: $399,900
List Price: $399,900
Listing Date: 2026-09-10
Remarks Misc
Directions: Futlon St to Seward, south to address
Property Features
Laundry Features: Common Area
Exterior Material: Vinyl Siding
Roofing: Composition
Substructure: Crawl Space; Michigan Basement; Partial
Lot Description: Level; Sidewalk
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected; Natural Gas Connected
Util Avail at Street: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Phone Available; Public Sewer; Public Water; Storm Sewer
Extras: Sep Electric Meter
Owner Pays: Gas; Trash Collection; Water
Tenant Pays: Electric
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: Window Unit(s)
Driveway: Aggregate
Street Type: Gravel; Paved
Mineral Rights: Unknown
Terms Available: Cash; Conventional; FHA
Possession: Subject To Tenant Rights
Sale Conditions: None
Unit 1: Range Oven; Refrigerator; Sep. Heat System; Washer/Dryer
Unit 2: Range/Oven; Refrigerator; Sep. Heat System; Washer/Dryer
Unit 3: Range/Oven; Refrigerator; Washer/Dryer
Listing Office: Berkshire Hathaway HomeServices Michigan Real Estate (Main)
Listing Agent: Keith J King
Last Updated: October - 14 - 2026
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.