127 Lexington Avenue SW, Grand Rapids, MI 49504 (MLS# 26048778)

127 Lexington Avenue SW, Grand Rapids, MI 49504

New Listing

$399,900

3 Unit within walking distance to everything GR offers.

Access is front door to the right if facing front of building

Tenants pay electricity. Landlord pays gas, water & trash

Rent is $1100. Could be a 2 bedroom or large 1 bedroom

Property Type: Multi Family Lot Size (sq. ft.): 6,100 Status: Active

Current Price: $399,900 List Date: 9/14/2026 Last Modified: 9/14/2026

Overview

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.

Listing Details MLS# 26048778

Location Property Info

County: Kent
Street #: 127
Street Name: Lexington
Suffix: Avenue
Post Direction: SW
State: MI
Zip Code: 49504

General Property Info

Lot Measurement: Acres
Lot Square Footage: 6100
Lot Acres: 0.14
Lot Dimensions: 50x122
Year Built: 1880
New Construction: No
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2031-08-11
Road Frontage: 50
Total # Units: 3
# of Diff Unit Floor Plans: 3
Total # Bldgs: Yes
Total Approx. SqFt All Bldgs: 1896
Total Parking Spaces: 4
Waterfront: No
School District: Grand Rapids
Association YN: No

Tax Info

Tax ID #: 41-13-25-307-022
Taxable Value: 41636
SEV: 153500
For Tax Year: 2026
Seller's Annual Property Tax: 2137
Tax Year: 2026
Spec Assessment & Ty: NK
Zoning: Res-Imp

Remarks Misc

Directions: Futlon St to Seward, south to address

Access Feat

Accessibility Features: No

More Information

Income and Expenses

Annual Insurance: 1667
Annual Maintenance: 500
Annual Utilities: 2603
Gross Op. Inc.: 33900
Net Operating Income: 30797
Operating Expense: 3103

Unit 1

Unit #: Yes
Unit Description: Efficiency
Identical Units: Yes
SqFt: 400
Occupied: Yes
Monthly Rent: 800
Bathrooms: Yes
Full Baths: Yes

Unit 2

Unit #: 2
Unit Description: Unit 2.Main Level.1b
Identical Units: Yes
SqFt: 700
Occupied: Yes
Monthly Rent: 925
Bathrooms: Yes
Full Baths: Yes

Unit 3

Unit #: 3
Unit Description: Upper Unit.2bed
Identical Units: Yes
SqFt: 797
Occupied: Yes
Monthly Rent: 1100
Bathrooms: Yes
Full Baths: Yes

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: September - 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.