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Washington Square Lofts 1336-1344 Portage St 16 Unit Apartment Building $1,905,431 CAD ($119,089 CAD/Unit) 12.83% Cap Rate Kalamazoo, MI 49001
INVESTMENT HIGHLIGHTS
- Prime Mixed-Use + Laundromat Investment Opportunity - Completed Vetted for any investor looking to take over this access class.
- Fast Growing location for Washington Square Business Corridor
- Fully Renovated and Secured Apartment with EPS Security State of the Arch Monitoring and Secured Fob Access Smart System.
- High Occupancy Property
EXECUTIVE SUMMARY
?? FOR SALE: Prime Mixed-Use + Laundromat Investment Opportunity – Kalamazoo, MI
Investors – secure this cash-flowing asset with built-in value-add potential:
16 renovated residential units
4 commercial retail spaces
10.23% - 13.1% CAP Rate | $1,330,000
Gross Rent: $17,450/Mo | Market Rent: $21,600/Mo
Fully separated utilities, new mechanical systems, and prime downtown location.
PLUS: Approved Laundromat Build-Out
Speed Queen feasibility study & architectural plans included
Monthly Net Income Projections:
Year 1: $5,107/month ($61,286 annually) – 24% income margin
Year 3: $12,825/month ($153,897 annually) – 42% income margin
Year 5: $21,539/month ($258,464 annually) – 53% income margin
Return on Cash Investment:
Year 1: 30%
Year 3: 76%
Year 5: 128%
This turnkey laundromat opportunity is pre-approved by the City of Kalamazoo, with all feasibility, pro forma, and engineering plans ready for build-out, adding an attractive passive income stream to the residential and retail cash flow.
Investors – secure this cash-flowing asset with built-in value-add potential:
16 renovated residential units
4 commercial retail spaces
10.23% - 13.1% CAP Rate | $1,330,000
Gross Rent: $17,450/Mo | Market Rent: $21,600/Mo
Fully separated utilities, new mechanical systems, and prime downtown location.
PLUS: Approved Laundromat Build-Out
Speed Queen feasibility study & architectural plans included
Monthly Net Income Projections:
Year 1: $5,107/month ($61,286 annually) – 24% income margin
Year 3: $12,825/month ($153,897 annually) – 42% income margin
Year 5: $21,539/month ($258,464 annually) – 53% income margin
Return on Cash Investment:
Year 1: 30%
Year 3: 76%
Year 5: 128%
This turnkey laundromat opportunity is pre-approved by the City of Kalamazoo, with all feasibility, pro forma, and engineering plans ready for build-out, adding an attractive passive income stream to the residential and retail cash flow.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$168,767
|
$7.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$18,091
|
$0.82
|
| Effective Gross Income |
$150,676
|
$6.81
|
| Taxes |
$23,033
|
$1.04
|
| Operating Expenses |
$9,773
|
$0.44
|
| Total Expenses |
$32,806
|
$1.48
|
| Net Operating Income |
$117,870
|
$5.33
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $168,767 |
| Annual Per SF | $7.63 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $18,091 |
| Annual Per SF | $0.82 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $150,676 |
| Annual Per SF | $6.81 |
| Taxes (CAD) | |
|---|---|
| Annual | $23,033 |
| Annual Per SF | $1.04 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $9,773 |
| Annual Per SF | $0.44 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $32,806 |
| Annual Per SF | $1.48 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $117,870 |
| Annual Per SF | $5.33 |
PROPERTY FACTS
AMENITIES
SITE AMENITIES
- On-Site Retail
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | $1,675 CAD | - |
| 1+1 | 14 | $1,256 CAD | 725 |
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 06-22-449-003 | Total Assessment | $450,467 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Annual Taxes | $23,033 CAD ($1.04 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
06-22-449-003
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$450,467 CAD (2025)
Annual Taxes
$23,033 CAD ($1.04 CAD/SF)
Tax Year
2024
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Presented by
Real Freedom Ventures Llc
Washington Square Lofts | 1336-1344 Portage St
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