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Ridgewood Apartments 2907 S Burdick St 33 Unit Apartment Building $2,900,000 ($87,879/Unit) Kalamazoo, MI 49001
Investment Highlights
- Value Add Opportunity
- New Boilers and Many Capital Improvements
- Upside in Rents
Executive Summary
MOXIE is pleased to exclusively offer Ridgewood Apartments for sale. This well-maintained all brick 33 unit property boasts an attractive unit mix, consisting of a 25 unit and 8 unit building. Rents are low and should be increased to market. This could be a great opportunity for your next cost segregation study or 1031 exchange. Many capital improvements have been completed, featuring new boilers, unit renovations, and HW heaters. There are two additional parcels of land included in the sale, the buyer may be able to add additional units or parking with proper city approvals. Don't miss this great addition to your rental portfolio. To learn more or arrange a confidential tour, contact mxmulti@workwithmoxie.com.
Property Facts
| Price | $2,900,000 | Building Class | C |
| Price Per Unit | $87,879 | Lot Size | 2.46 AC |
| Sale Type | Investment | Building Size | 36,000 SF |
| No. Units | 33 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 4.87/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RM15 - Residential Multi Dwelling | ||
| Price | $2,900,000 |
| Price Per Unit | $87,879 |
| Sale Type | Investment |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.46 AC |
| Building Size | 36,000 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 4.87/1,000 SF |
| Zoning | RM15 - Residential Multi Dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $950.00 | 675 |
| 2+1 | 28 | $950.00 | 776 |
| 2+1 | 3 | $950.00 | 834 |
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Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 06-27-455-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $726,200 |
Property Taxes
Parcel Number
06-27-455-001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$726,200
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Contact the Sale Advisor
Ridgewood Apartments | 2907 S Burdick St