Properties for sale in Michigan

Overview

Description

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, 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 an investor looking for immediate cash flow without the hassle of renovation/lease.

Location Property Info

County: Kalamazoo
Street #: 3116
Street Name: Whittier
Suffix: Drive
State: MI
Zip Code: 49001
Zip (4): 0908

General Property Info

Lot Measurement: Acres
Lot Square Footage: 6098
Lot Acres: 0.14
Lot Dimensions: 50*120
Year Built: 1912
New Construction: No
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2021-11-30
Road Frontage: 50
Total # Units: 3
# of Diff Unit Floor Plans: 3
Total # Bldgs: Yes
Total Approx. SqFt All Bldgs: 1325
Total Parking Spaces: 5
Waterfront: No
School District: Kalamazoo
Basement: Yes

Tax Info

Tax ID #: 3900626474010
Taxable Value: 75377
SEV: 88400
For Tax Year: 2025
Seller's Annual Property Tax: 5074
Tax Year: 2025
Zoning: RM-15
Homestead %: 0
Spec Assessment & Ty: No

Remarks Misc

Directions: Take E Cork Street East from Portage Rd

Waterfront Options

Water Access Y/N: No

More Information

Access Feat

Accessibility Features: No

Income and Expenses

Gross Op. Inc.: 1985

Unit 1

Unit #: Yes
Unit Description: Unit #1
Occupied: Yes
Monthly Rent: 849
Bathrooms: Yes
Full Baths: Yes
Range Oven: Yes
Refrigerator: Yes

Unit 2

Unit #: 2
Unit Description: Unit #2
Occupied: Yes
Monthly Rent: 900
Bathrooms: Yes
Full Baths: Yes
Range/Oven: Yes
Refrigerator: Yes

Unit 3

Unit #: 3
Unit Description: Unit #3
Monthly Rent: 840
Bathrooms: Yes
Full Baths: Yes
Range/Oven: Yes
Refrigerator: Yes

Location & Property Info

Cross Streets: Sheridan Dr and East Cork St
Property Sub-Type: 2 to 4 Units
Municipality: Kalamazoo City

Office/Contract Info

Auction or For Sale: For Sale
List Price/SqFt: 158.49

Remarks & Misc

Public Remarks: 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, 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 an investor looking for immediate cash flow without the hassle of renovation/lease.
Legal: PORTAGE PARK LOT 10 BLK D

Lot Description

Sidewalk: Yes

Street Type

Public: Yes

Util Avail at Street

Cable Available: Yes
Electricity Available: Yes
Natural Gas Available: Yes
Phone Available: Yes
Public Sewer: Yes
Public Water: Yes

Utilities Attached

Electricity Connected: Yes
Natural Gas Connected: Yes

Sewer

Public Sewer: Yes

Water

Public Water: Yes

Terms Available

Cash: Yes
Conventional: Yes
FHA: Yes
VA Loan: Yes

Mineral Rights

Unknown: Yes

Exterior Material

Vinyl Siding: Yes

Heat Source

Natural Gas: Yes

Sale Conditions

None: Yes

Heat Type

Forced Air: Yes

Air Conditioning

None: Yes

Tenant Pays

Trash: Yes

Driveway

Paved: Yes

Substructure

Full: Yes

Owner Pays

Electricity: Yes
Gas: Yes
Sewer: Yes
Trash Collection: Yes
Water: Yes

Possession

Close Of Escrow: Yes

Property Features

Exterior Material: Vinyl Siding Substructure: Full Lot Description: Sidewalk Sewer: Public Sewer Water: Public Water Utilities Attached: Electricity Connected; Natural Gas Connected Util Avail at Street: Cable Available; Electricity Available; Natural Gas Available; Phone Available; Public Sewer; Public Water Owner Pays: Electricity; Gas; Sewer; Trash Collection; Water Tenant Pays: Trash Heat Source: Natural Gas Heat Type: Forced Air Air Conditioning: None Driveway: Paved Street Type: Public Mineral Rights: Unknown Terms Available: Cash; Conventional; FHA; VA Loan Possession: Close Of Escrow Sale Conditions: None Unit 1: Range Oven; Refrigerator Unit 2: Range/Oven; Refrigerator Unit 3: Range/Oven; Refrigerator

3116 Whittier Drive, Kalamazoo, MI 49001