1619 Fraternity Village Dr

Home » All Multifamily Properties » Chicago & Midwest » 1619 Fraternity Village Dr

Address: 1619 Fraternity Village Dr, Kalamazoo, MI 49006, USA

Chicago & Midwest + Apartment Buildings

Created date: September 3, 2024

Date last updated: September 3, 2024

- Walking distance to Western Michigan University (0.7 miles to campus)
- 100% occupancy for the 2024-25 school year
- All 1-bedroom or studio units, appealing to renters in this market
- 90% of units in the 1619 building are newly renovated
- Value-Add opportunity: finish buildout of a three-bedroom unit in the basement of 1619 building
- Guaranteed revenue from Master Lease with fraternity signed through 2026-27
- Built in 1984, zoned RM-15
- Excellent rental history and potential for future growth
-Additional revenue generated through coin-operated laundry and utility bill-back system

Property Description

Two buildings nestled in the back of Fraternity Village Drive catering cater to students at Western Michigan University and Kalamazoo College. The 1619 building leases by the bed to students and all leases are co-signed by a guarantor. The 1625 building is in a master lease with a Fraternity through the 2026-27 School Year.

Available

Request Information

Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$1,600,000
No. of Units:	20
Average Occupancy:	7.5
Year Built:	1984
Lot Size:	0.23 Sq ft
Opportunity Zone:	No
Price per unit:	$80,000
Property Website	Click Here