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$1,700,000
Est. payment /mo
12,480 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,480 sqft
Price per Sqft $136
Subdivision Mi
MLS Listing ID 70486203
Year Built 1950
Annual Tax Amount $27,194
Tax Year 2024
Lot Size 0.750 Acres
Acres 0.75
Lot Dimensions 249x134
Property Sub-Type Multi-Family
Property Description
Exceptional 24-unit apartment complex featuring 23 spacious 1-bedroom units and 1 2-bedroom unit across four solid brick, 3-story buildings (6 units per building). Located in a prime rental market with excellent occupancy history and long-term tenant stability. Property includes 25 total parking spaces (carport and lot parking) and two well-maintained coin laundry rooms for added convenience and revenue.Total monthly revenue is currently near $20,000.Many units have been tastefully updated, and there's strong potential for value-add by converting up to 19 units into 2-bedrooms. Tenants pay electric and cooking gas, while owner covers heat, water/sewer, trash, and lawn/plow services. Low vacancy, strong returns, and clear upside make this a rare multifamily opportunity.
Location
State MI
County Kalamazoo
Area Parchment (39025)
Interior
Heating Hot Water
Cooling None
Exterior
Exterior Feature Brick
Parking Features Carport
Amenities Available Laundry Facility
Building
Lot Description Sidewalks
Foundation Basement
Structure Type Brick
Schools
School District Parchment School District
Others
Energy Description Natural Gas
Financing Cash,Conventional
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Listed by Five Star Real Estate