1525-1605 Bacon Ave | Portage, MI 49002
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1525-1605 Bacon Ave
Portage, MI 49002
Lakewood Apartments · Multifamily Property For Sale
·
48 Units
Investment Highlights
- Attractive unit mix. Majority of the units have been renovated. The property has had substantial capital improvements with over $600k in renovations.
- Rents are well below market. Ownership has proved out the value add strategy and renovated a majority of the units and increased rents.
- Development opportunity to add additional units and increasing density. Possible TIF and brownfield funds available.
Property Facts
| No. Units | 48 | Lot Size | 9.84 AC |
| Property Type | Multifamily | Building Size | 31,800 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1978/2024 |
| Building Class | C | Parking Ratio | 2.56/1,000 SF |
| Zoning | R4 | ||
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 9.84 AC |
| Building Size | 31,800 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1978/2024 |
| Parking Ratio | 2.56/1,000 SF |
| Zoning | R4 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Storage Space
- Washer/Dryer
- Heating
- Walk-In Closets
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | - | 567 |
| 2+1 | 30 | - | 630 |
Property Taxes
| Parcel Number | 10-00027-197-O | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,223,700 |
Property Taxes
Parcel Number
10-00027-197-O
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,223,700
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