1336-1344 Portage St - Apartments FOR SALE


Kalamazoo, MI 49001- Edison
$1,330,000 USD
269-589-0926
1336-1344 Portage St, Kalamazoo, MI for Sale
$1,330,000 USD
Apartments - FOR SALE
1/40
null | 13.17% Cap Rate

1336-1344 Portage St
Kalamazoo, MI 49001
Edison


HIGHLIGHTS

  • Prime Mixed-Use + Laundromat Investment Opportunity - Completed Vetted for any investor looking to take over this access class.
  • Fully Renovated and Secured Apartment with EPS Security State of the Arch Monitoring and Secured Fob Access Smart System.
  • Fast Growing location for Washington Square Business Corridor
  • High Occupancy Property

OVERVIEW

?? FOR SALE: Prime Mixed-Use + Laundromat Investment Opportunity – Kalamazoo, MI Investors – secure this cash-flowing asset with built-in value-add potential: ? 16 renovated residential units ? 4 commercial retail spaces ? 10.23% - 13.1% CAP Rate | $1,330,000 ? Gross Rent: $17,450/Mo | Market Rent: $21,600/Mo ? Fully separated utilities, new mechanical systems, and prime downtown location. ?? PLUS: Approved Laundromat Build-Out Speed Queen feasibility study & architectural plans included Monthly Net Income Projections: ? Year 1: $5,107/month ($61,286 annually) – 24% income margin ? Year 3: $12,825/month ($153,897 annually) – 42% income margin ? Year 5: $21,539/month ($258,464 annually) – 53% income margin ?? Return on Cash Investment: Year 1: 30% Year 3: 76% Year 5: 128% This turnkey laundromat opportunity is pre-approved by the City of Kalamazoo, with all feasibility, pro forma, and engineering plans ready for build-out, adding an attractive passive income stream to the residential and retail cash flow.

FOR SALE DETAILS

PRICE

$1,330,000 USD

PRICE/SF

$60 USD /SF

# OF UNITS

16

PRICE/UNIT

$83,125

CAP RATE

13.17%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Washington Square Lofts

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1930

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

CC

APN/PARCEL ID

06-22-449-003

ASK ABOUT THIS PROPERTY

Jean-Francois NdombReal Freedom Ventures LlcMore Info
269-589-0926

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Jean-Francois NdombReal Freedom Ventures LlcMore Info
269-589-0926

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.