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1619 Fraternity Village Dr 20 Unité Immeuble d’appartements 2 169 720 $ CAD (108 486 $ CAD/Unité) 6,66% Taux de capitalisation Kalamazoo, MI 49006
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Faits saillants de l'investissement
- Many Recent Capital Improvements; Renovated Units, New Roofs, etc.
- Conveniently Located ¾ Mile from Western Michigan University
- Tenant Paid Gas, Electric, and Water (In Place RUBS)
- Below Market Rents; Comparable Properties Achieving Approximately $100–$150 Higher Rents
- Strong Student Housing Location with 17,000+ WMU Students
Résumé de l'annonce
Hull Multifamily Advisors (HMA) is pleased to present the exclusive offering of WMU Apartments, a well-located 20-unit multifamily asset in Kalamazoo, Michigan. Constructed in 1984, the property consists of two separate two-story buildings located just off Fraternity Village Drive and within walking distance of Western Michigan University. The property features a desirable mix of 16 one-bedroom units and 4 studios, along with amenities including coin-operated laundry, dishwashers in select units, air conditioning, ample parking, a recreation room, and a park-like setting. Tenants are responsible for electric, while gas and water are allocated through a RUBS system. Recent capital improvements include 10 renovated units, new roofs(2018), and a repaved parking lot(2018).
Current ownership has implemented a successful value-add strategy, with 10 of the 20 units fully renovated and achieving approximately $75–$125 in additional monthly rent. A new owner can continue renovating the remaining 10 units to capture similar premiums. Additional upside exists through the potential conversion of Building 1625 from its current fraternity use to individually leased market-rate student housing, as well as the potential conversion of existing common areas into additional rentable units, subject to local requirements. After conducting an in-depth rent comparable analysis (located in the OM), this indicates comparable properties are achieving rents approximately $100–$150 higher than WMU Apartments, further supporting the property's rental upside. With its exceptional location near Western Michigan University, recent capital improvements, and multiple avenues for increasing revenue, WMU Apartments presents a compelling value-add opportunity with significant potential for increased cash flow and long-term appreciation. Please contact HMA for additional information before this opportunity is gone.
Current ownership has implemented a successful value-add strategy, with 10 of the 20 units fully renovated and achieving approximately $75–$125 in additional monthly rent. A new owner can continue renovating the remaining 10 units to capture similar premiums. Additional upside exists through the potential conversion of Building 1625 from its current fraternity use to individually leased market-rate student housing, as well as the potential conversion of existing common areas into additional rentable units, subject to local requirements. After conducting an in-depth rent comparable analysis (located in the OM), this indicates comparable properties are achieving rents approximately $100–$150 higher than WMU Apartments, further supporting the property's rental upside. With its exceptional location near Western Michigan University, recent capital improvements, and multiple avenues for increasing revenue, WMU Apartments presents a compelling value-add opportunity with significant potential for increased cash flow and long-term appreciation. Please contact HMA for additional information before this opportunity is gone.
Faits sur la propriété
| Prix | 2 169 720 $ CAD | Classe d’immeuble | B |
| Prix par unité | 108 486 $ CAD | Taille du lot | 1,66 AC |
| Type de vente | Investissement | Taille du bâtiment | 10 232 pi² |
| Taux de capitalisation | 6,66% | Occupation moyenne | 100% |
| Nombre d’unités | 20 | Nombre d’étages | 3 |
| Type de propriété | Immeuble residentiel | Année de construction | 1984 |
| Sous-type de propriété | Appartement | Ratio de stationnement | 3,32/1 000 pi² |
| Style d’appartement | Jardin | ||
| Zonage | RM-15 - Residential District | ||
| Prix | 2 169 720 $ CAD |
| Prix par unité | 108 486 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 6,66% |
| Nombre d’unités | 20 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | Jardin |
| Classe d’immeuble | B |
| Taille du lot | 1,66 AC |
| Taille du bâtiment | 10 232 pi² |
| Occupation moyenne | 100% |
| Nombre d’étages | 3 |
| Année de construction | 1984 |
| Ratio de stationnement | 3,32/1 000 pi² |
| Zonage | RM-15 - Residential District |
Commodités
Commodités des unités
- Climatisation
- Chauffage
- Cuisine
- Réfrigérateur
- Four
- Bain/Douche
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| Studios | 4 | - | 415 |
| 1+1 | 16 | - | 595 |
1 1
Assez accessible à pied
40/100
Exceptionnellement adapté aux voitures
90/100
Transports en commun limités
30/100
Moyennement accessible en vélo
60/100
Impôts fonciers
| Numéro de lot | 06-20-362-009 | Évaluation des bâtiments | 0 $ CAD |
| Évaluation du terrain | 0 $ CAD | Évaluation totale | 590 108 $ CAD |
Impôts fonciers
Numéro de lot
06-20-362-009
Évaluation du terrain
0 $ CAD
Évaluation des bâtiments
0 $ CAD
Évaluation totale
590 108 $ CAD
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1619 Fraternity Village Dr
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