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 those looking for immediate cash flow. Gas/Electric = $407/mo Water/sewer $75/mo.

Property Features

Local Schools