1208 Princeton Avenue Kalamazoo, MI 49007
3,920 Sqft Lot
UPDATED:
02/19/2025 12:50 AM
Key Details
Property Type Multi-Family
Sub Type 2 to 4 Units
Listing Status Active
Purchase Type For Sale
Municipality Kalamazoo City
MLS Listing ID 25005994
Year Built 1905
Annual Tax Amount $2,726
Tax Year 2024
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 33*115.5
Property Sub-Type 2 to 4 Units
Property Description
The lower-level unit, which has been rented for $950 per month, will be vacant in March, presenting the perfect opportunity for an owner-occupant or a new tenant at market rent. The upper-level unit is currently occupied at $800 per month. This brings the total gross rental income to $1,750 per month, or $21,000 annually.
The owner currently covers gas, electric, and water expenses, which average $350 per month or approximately $4,200 per year. Even with these expenses, the property delivers a strong net operating income of $16,800 annually. Priced at $125,000, this property boasts an impressive 13.44% cap rate, making it a rare find in today's market.
Additionally, the home will be freshly city certified in March, with a new two-year certification in place, ensuring compliance and ease of ownership for the next investor. If desired, there are tenants available and ready to move into the lower-level unit, making for a seamless transition in occupancy.
With strong rental demand in the area and the potential for increased rents, this is an excellent opportunity to secure a profitable multifamily property at an affordable price. Don't miss your chance to own this income-generating duplexschedule your showing today! approximately $4,200 per year. Even with these expenses, the property delivers a strong net operating income of $16,800 annually. Priced at $125,000, this property boasts an impressive 13.44% cap rate, making it a rare find in today's market.
Additionally, the home will be freshly city certified in March, with a new two-year certification in place, ensuring compliance and ease of ownership for the next investor. If desired, there are tenants available and ready to move into the lower-level unit, making for a seamless transition in occupancy.
With strong rental demand in the area and the potential for increased rents, this is an excellent opportunity to secure a profitable multifamily property at an affordable price. Don't miss your chance to own this income-generating duplexschedule your showing today!
Location
State MI
County Kalamazoo
Area Greater Kalamazoo - K
Direction westnedge left to norway right on princeton to home on right
Rooms
Basement Michigan Basement
Interior
Heating Forced Air
Fireplaces Number 1
Exterior
Utilities Available Electricity Available, Natural Gas Connected, Electricity Connected
View Y/N No
Building
Sewer Public Sewer
Structure Type Aluminum Siding
New Construction No
Schools
School District Kalamazoo
Others
Tax ID 06-15-101-016
Acceptable Financing VA Loan, FHA, Cash, Conventional
Listing Terms VA Loan, FHA, Cash, Conventional