Thank you
Zac L Folsom
Zac Folsom Group
269-241-3493
Dive into an exceptional investment opportunity with this city-certified, recently remodeled 4-unit rental property, strategically located in the heart of Kalamazoo's bustling area. This property stands out as a lucrative investment, offering the potential for conversion back to its original 5-unit setup with minimal effort, presenting an even greater income potential for the astute investor.Currently, the building features an attractive array of units: two expansive 2-bedroom units with rental possibilities reaching $1,100 or more, alongside two inviting 1-bedroom units that could command $800 or more. There's also potential to re-establish a charming studio apartment, which could easily fetch $600 or more, thereby enhancing the property's rental diversity and appeal.This variety ensures the property appeals to a wide range of tenants, from students to professionals, thanks to its proximity to Kalamazoo College and Western Michigan University, securing a steady demand. The recent renovations highlight low-maintenance, modern interiors that appeal to the contemporary renter, ensuring ease of management and tenant satisfaction. Notably, the investment comes with the convenience of ample off-street parking, a significant draw for potential tenants and a boost to the property's desirability. This investment shines with its ability to generate immediate cash flow, thanks to a strategic setup where tenants cover their heating and electric costs, thereby minimizing owner expenses to just trash and water services. Coupled with the potential for rent increases, this property is poised for enhanced revenue, promising long-term value appreciation in a thriving rental market. This property is not just an investment but a chance to secure a footprint in Kalamazoo's real estate landscape, offering both quality and potential. Whether you're a seasoned investor or new to the market, seize this unparalleled opportunity to expand your portfolio with a property that promises immediate profitability and future growth. Reach out
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Heating: Radiant
Heating Fuel: Natural Gas
Year Built: 1905
Total Units: 4
Foundation/Basement: Michigan Basement
Sewer: Public Sewer (Sewer-Sanitary),Sewer at Street
Public (Municipal),Water at Street
Lot Size: 0.25
Lot Dimensions: 81*132
Frontage Feet: 81
Financing: Cash,Conventional,FHA,VA
Original List Price: $330,000
Possession: At Close
Legal Description: 4582 COM ON E LI DOUGLAS AVEAT A PT 108 1/2FT S OF S LI NORTH ST TH E PAR WITH S LI NORTH ST 44.08FT TH S PAR WITH E LI DOUGLAS AVE 7 1/2 FT TH E 139.28FT TH S PAR WITH E LI DOUGLAS AVE 68.41 FT TH W PAR WITH S LI NORTH ST 183.3FT TO E LI DOUGLAS AVE TH N 75.91FT TO BEGIN.
Annual Tax: $8,844
Parcel Number: 0616265024
At Close
Legal Description: Section: 4582 COM ON E LI DOUGLAS AVEAT A PT 108 1/2FT S OF S LI NORTH ST TH E PAR WITH S LI NORTH ST 44.08FT TH S PAR WITH E LI DOUGLAS AVE 7 1/2 FT TH E 139.28FT TH S PAR WITH E LI DOUGLAS AVE 68.41 FT TH W PAR WITH S LI NORTH ST 183.3FT TO E LI DOUGLAS AVE TH N 75.91FT TO BEGIN.
Parking: 10
# of Bedrooms: 2
# of Bedrooms: 2
School District: Kalamazoo
Water:Public (Municipal),Water at Street
Sewer:Public Sewer (Sewer-Sanitary),Sewer at Street
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
935 W Lovell Street, Kalamazoo, MI,49007 | $163,000 | 6 | 4 | 2,633 | 0.13 Acre |
422 Elm Street, Kalamazoo, MI,49007 | $169,000 | 5 | 2 | 1,974 | 0.12 Acre |
801 N Park Street , Kalamazoo, MI,49007 | $45,000 | -- | -- | -- | 0.13 Acre |
145 E Paterson Street, Kalamazoo, MI,49007 | $50,000 | 3 | 1 | 1,146 | 0.1 Acre |
629 Davis Street , Kalamazoo, MI,49007 | $155,000 | 4 | 1.5 | 1,583 | 0.13 Acre |
510 Ada Street, Kalamazoo, MI,49007 | $86,500 | 2 | 1 | 868 | 0.15 Acre |
512 Douglas Avenue , Kalamazoo, MI,49007 | $118,000 | 4 | 3 | 2,166 | 0.28 Acre |
512 Douglas Avenue, Kalamazoo, MI,49007 | $118,000 | 4 | 3 | 2,166 | 0.28 Acre |
222 N Kalamazoo Mall .., Kalamazoo, MI,49007 | $235,000 | 1 | 1 | 834 | 0.28 Acre |
222 N Kalamazoo Mall #260, Kalamazoo, MI,49007 | $235,000 | 1 | 1 | 834 | 0.28 Acre |
Disclosure: The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. IDX provided courtesy of Realcomp II Ltd., via ByOwner.com and REALCOMP, Copyright 2024 Realcomp II Ltd. Shareholders. REALTOR (R) licensed in the state of Michigan. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed and to participants of any data share partner MLS.
ByOwner last updated this listing 05/04/2024 @ 07:13
MLS: 602162770
LISTED BY: Zac L Folsom , Zac Folsom Group
SOURCE: Realcomp II Ltd
Buyer Agency Compensation: 3.00%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.