1208 Princeton Avenue

Kalamazoo, Michigan 49007

  • 4 Bed(s)
  • 0 Bath(s)
  • 0 Sqft
  • 0.09
    Acre(Lot)
$125,000

Description

This well-maintained duplex offers an excellent opportunity for investors looking to acquire a high-yield, cash-flowing property in the heart of kalamazoo. with two spacious 2-bedroom, 1-bathroom units, this property has consistently generated steady rental income, making it an attractive option for both seasoned investors and those looking to grow their portfolio.the lower-level unit, which has been rented for $950 per month, will be vacant in march, presenting the perfect opportunity for an owner-occupant or a new tenant at market rent. the upper-level unit is currently occupied at $800 per month. this brings the total gross rental income to $1,750 per month, or $21,000 annually.the owner currently covers gas, electric, and water expenses, which average $350 per month orapproximately $4,200 per year. even with these expenses, the property delivers a strong net operating income of $16,800 annually. priced at $125,000, this property boasts an impressive 13.44% cap rate, making it a rare find in today's market.

additionally, the home will be freshly city certified in march, with a new two-year certification in place, ensuring compliance and ease of ownership for the next investor. if desired, there are tenants available and ready to move into the lower-level unit, making for a seamless transition in occupancy.

with strong rental demand in the area and the potential for increased rents, this is an excellent opportunity to secure a profitable multifamily property at an affordable price. don't miss your chance to own this income-generating duplexschedule your showing today!

  • Property Type

    Multifamily

  • County

    Kalamazoo

  • Style

    Multifamily

  • AD ID

    48642201

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Property Details

  • Heating & Cooling

    • Heating: Forced Air
    • Heating Fuel: Natural Gas

  • Building Information

    • Year Built: 1905
    • Total Units: 2
    • Foundation/Basement: Michigan Basement

    Utility Features

    • Sewer: Public Sewer (Sewer-Sanitary)

    Water

    • Public (Municipal)

  • Lot Information

    • Lot Size: 0.09
    • Dimensions: 33*115.5

    Property Information

    • Financing: Cash,Conventional,FHA,VA

  • Listing Price Information

    • Original List Price: $125,000

    Listing Information

    • Legal Description: 20540 FLETCHERS ADDITION, LIBER 2 OF PLATS PAGE 23; THE SOUTH 1/2 OF THE WEST 7 RODS OF LOT 16.

  • Tax Information

    • Annual Tax: $2,726
    • Parcel Number: 0615101016

    Legal Information

    • Legal Description: Section: 20540 FLETCHERS ADDITION, LIBER 2 OF PLATS PAGE 23; THE SOUTH 1/2 OF THE WEST 7 RODS OF LOT 16.

  • Unit 2 Information

    • # of Bedrooms: 2

  • Utility Information

    • Water:Public (Municipal)
    • Sewer:Public Sewer (Sewer-Sanitary)
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BuyOwner last updated this listing 02/21/2025 @ 22:23

  • MLS: 623286021
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: Realcomp II Ltd

is a Multifamily, with 4 bedrooms which is for sale, it has 0 sqft, 0 sized lot, and 0 parking. A comparable Multifamily, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Kalamazoo , in zip code 49007, this Kalamazoo County Multifamily are nearby neighborhoods.