Turnkey 3-unit investment property in the desirable Milwood neighborhood of Kalamazoo. All three units have been fully renovated within the last 4 years with updated kitchens, bathrooms, and finishes throughout. Rents have been significantly increased from prior ownership, growing from a combined $2,010 per month to $2,589 per month gross,… Read More representing 29% rent growth with $31,068 in annual gross income. The value-add work still to be done would be splitting utilities and further increasing rents.Each unit is one bedroom and one bath. Owner pays water, gas/electric, trash, landscaping, and snow removal. Plenty of parking is available with one assigned space per unit.Current rents are Unit 1 at $849, Unit 2 at $900, and Unit 3 at $840. All units are occupied with leases in place. This is a stabilised, income-producing asset in a desirable area with modern interiors and strong rent history. Ideal for those looking for immediate cash flow. Gas/Electric = $407/mo Water/sewer $75/mo. Read Less
Provided through IDX through Realcomp II Ltd. Courtesy of Coldwell Banker Realty, [email protected], (269) 469-3950.
Listing Snapshot
Days Online
13
Last Updated
Property Type
Multifamily
Lot Size
0.14 Acres
Year Built
1912
MLS Number
66026021399
30 Days Snapshot Of 49001
$201k
+23%
(avg) sold price
15
+50%
homes sold
73
+15%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Pub. Sidewalk
Basement
Basement?: 1
Building
3 total units, 3 one-bedroom units, Built in 1912, Vinyl, Unit count: 3
Water Features
Public (Municipal)
Heating
Forced Air, Natural Gas
Lot
Lot size area: 0.14, Lot size dimensions: 50*120
Miscellaneous
Gross scheduled income: $31,068
Parking
5 parking spaces
Property
Property type: Multifamily
Taxes
Tax amount (summer): $5,074
Sewer
Sewer (Sewer-Sanitary), Sewer at Street
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