3301 West Michigan Ave
Kalamazoo, MI 49006 ·
69 Units · Multifamily For Sale
WMU Student Housing Portfolio
|No. Units||69||Property Use Type||Investment|
|Building Size||55,043 SF||Cap Rate||7.93%|
|Listing ID: 15528116||Date Created: 01/23/2008||Last Updated: 06/02/2008|
Marcus & Millichap is pleased to announce for sale a student housing portfolio near the Western Michigan University campus in Kalamazoo, Michigan. The offering is comprised of 69 apartment units spread amongst three (3) properties, including the Treehouse Apartments, the Greenwood Apartments, and the Sprague Apartments.
The Treehouse property is located 8 blocks from campus in a beautiful forest-like setting. It is a four-story brick building featuring (22) 2-Bedroom and (1) 1-Bedroom units. There is a laundry room on site and the building is heated by baseboard heat from a central boiler. There are approximately 41 parking spaces on-site.
The Greenwood property consists of three similar two-story brick buildings located roughly 4 blocks from campus. Each building includes eight units, with (4) 2-Bedroom and (4) 1-Bedroom units. The two bedroom units have hardwood floors and each building has its own laundry room, water heater for all units, and boiler for baseboard radiator heat. There are 42 parking spaces on-site.
The Sprague property consists of a 21-unit three-story building with (20) 2-Bedroom and (1) 1-Bedroom units and a 3 Bedroom/2 Bath house with a detached 2-car garage. This property is located only 2 blocks from campus.
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