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Est. payment /mo
New
3116 Whittier DR Kalamazoo City, MI 49001
1,325 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 1,325 sqft
Price per Sqft $158
MLS Listing ID 66026021399
Year Built 1912
Lot Size 6,098 Sqft
Acres 0.14
Property Sub-Type MultiFamily
Property 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
State MI
County Kalamazoo
Area Area39062Kalamazoo
Rooms
Basement Full
Interior
Heating Forced Air, Natural Gas
Fireplace No
Exterior
Parking Features Paved
Community Features Sidewalks
Utilities Available ElectricityConnected, NaturalGasConnected, PhoneAvailable, SewerConnected
View Y/N No
Building
Sewer Public Sewer, Sewer At Street
Water Public
New Construction No
Schools
School District Kalamazoo
Others
Acceptable Financing Cash, Conventional, FHA, VaLoan
Listing Terms Cash, Conventional, FHA, VaLoan
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Listed by Will Howson of Coldwell Banker Realty