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1324 Lafayette Ave
Kalamazoo, MI 49006
Arcadia Grove Apartments · Multifamily Property For Sale
·
392 Units
PROPERTY FACTS
| No. Units | 392 | Building Size | 392,060 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 1977 |
| Building Class | C | Parking Ratio | 1.3/1,000 SF |
| Lot Size | 11.68 AC | ||
| Zoning | RM-15 | ||
| No. Units | 392 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 11.68 AC |
| Building Size | 392,060 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1977 |
| Parking Ratio | 1.3/1,000 SF |
| Zoning | RM-15 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Freezer
- Patio
SITE AMENITIES
- 24 Hour Access
- Business Center
- Controlled Access
- Clubhouse
- Fitness Center
- Laundry Facilities
- Pool
- Tanning Salon
- Furnished Units Available
- Online Services
- Sundeck
- Public Transportation
- Smoke Detector
ABOUT 1324 LAFAYETTE AVE , KALAMAZOO, MI 49006
The Property was constructed in several phases from 1965-2004 and consists of 21 residential buildings and a clubhouse/office building. Current ownership has invested over $4 million into property improvements, including renovating 115 units, enhancing the exteriors of 11 buildings, and resurfacing the resort-style pool. Though foundational improvements have been made, there remains a value-add opportunity to complete renovations to the levels of comparable assets that are achieving significant rent premiums.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | - | 360 |
| 1+1 | 40 | - | 552 |
| 2+1 | 187 | - | 900 - 924 |
| 2+2 | 108 | - | 924 - 1,100 |
| 3+2 | 9 | - | 1,200 |
| 4+2 | 1 | - | 1,600 |
| 6+4 | 35 | - | 2,200 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $8,235,000 |
PROPERTY TAXES
