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32808887
32808874

1336 Portage Street, Kalamazoo, MI 49001 For Sale

Bellabay Realty
Listed by Bellabay Realty
$1,365,000
58 days on market
Updated 56 days ago

1336 Portage Street

Details
Property Type Retail, Multifamily
Sub Type Apartment Building, Storefront (+1)
Square Footage 22,122
Cap Rate 9.53%
NOI $130,067
Occupancy 83%
Tenancy Multi
Price per SqFt $62
Year Built 1907
Year Renovated 2022, 2023
Lot Size (SqFt) 7,841
Zoning CC
Ground Lease No
Sale Condition N/A

16 Residential Units, 4 Commercial spaces

Marketing description

Turnkey mixed-use investment opportunity in the heart of Kalamazoo’s Edison neighborhood. 1336 Portage St features 16 residential units and 4 commercial storefronts, creating a strong blend of stable rental income and future upside potential. The property includes fourteen 1-bedroom apartments, two 2-bedroom units, and separately metered electric for each space, helping minimize owner expenses. Several of the current 1-bedroom layouts also offer the potential to convert into additional 2-bedroom units for increased revenue. Current commercial tenants include a salon and wellness/nutrition business, with additional opportunity for future buildout and value-add improvements. Ideally positioned along the high-traffic Portage Street corridor with close proximity to downtown Kalamazoo, Bronson Hospital, restaurants, public transportation, and major employers. A rare opportunity to acquire a renovated multi-unit asset with both immediate cash flow and long-term growth potential in one of Kalamazoo’s established rental markets.

Investment highlights

-16 Residential units ranging from 725-925 sq ft

-Renovations include new flooring, windows, and appliances in select units

-Separately metered electrical utilities, voucher certification, updated rental certification, skylights, and secure mailbox access

-Stable tenant base with potential for rent increase

-4 Street Level Commercial units ranging from 1250-2500 sq ft

-Flexible layouts for retail, service, or office tenants

-Strong visibility along Portage St with consistent traffic

Listing Contacts

Bellabay Realty
Listed by Bellabay Realty

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$130,067.00
$10,838.92/mo

Valuation Metrics

0
DSCR
9.53%
Cap Rate
9.53%
ROI

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Additional Information

Name
Kelly Idema
License
65002380676
Brokerage
Bellabay Realty
Title
Broker of Record
Brokerage Address
1685 68th, Caledonia MI 49316
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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