3116 N Whittier Drive
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.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $179,999 |
| No. of Units: | 3 |
| Year Built: | 1912 |
| Opportunity Zone: | No |
| Price per unit: | $60,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 3 |
| Number of Bathrooms: | 0 |
ID: 3yd-GRARMI-26029550
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Final Deal Analysis
Similar Properties in the Area
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout