1525 Bacon Avenue
Portage, MI 49002

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Description

MOXIE Real Estate + Development is pleased to exclusively offer Lakewood Apartments for sale. This well-maintained property boasts an attractive unit mix with the majority of units already renovated, offering a blend of stability and potential for continued growth. With substantial capital improvements, the property is primed for long-term success. Key features include: renovated Units, additional revenue stream by implementing RUBS/utility bill back program and renting storage the lockers. Rents are well below market. With almost 10 acers, there is a future development opportunity, with a possibility of incentives for future expansion. Lakewood Apartments represents a solid investment opportunity with significant upside potential. For more information, please contact MOXIE.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family
• Listing Status: Active
• County/Area: Kalamazoo County
• Zip Code: 49002
• Year Built: 1978
• School District: Portage
• Units: 48 units
• Basement: Slab
• # of Parking Spaces: 72
• Lot Size: 9.84 acres
• Basement Type: No
• Construction Materials: Wood Siding
• Cross Street: Portage Rd
• Heat Source: Natural Gas
• Heat Type: Hot Water, Radiant
• Heating: Hot Water, Radiant
• Lot Size Area: 9.84
• Lot Size Square Feet: 428630
• Lot Size Units: Acres
• MLS Area Major: Greater Kalamazoo - K
• MLS Area Minor: Greater Kalamazoo - K
• Main Type: Multi Family
• Number Of Buildings: 3
• Number Of Diff Unit Floor Plans: 2
• Owner Pays: Gas, Trash Collection, Water
• Parcel Number: 10-00027-197-O
• Possession: Close Of Escrow
• Roof: Composition
• SEV: 1124600
• Sewer: Public Sewer
• Tax Annual Amount: 76323
• Tax Year: 2024
• Tenant Pays: Electricity
• Terms Available: Cash, Conventional
• Township: Portage City
• Util Availat Street: High Speed Internet, Cable Available, Electricity Available, Natural Gas Available, Public Sewer, Public Water, Phone Available
• Utilities: Cable Connected, Natural Gas Connected, Phone Connected, Electricity Connected, Cable Available, Electricity Available, Natural Gas Available, Phone Available
• Water Access: No
• Water Source: Public Water
• Zoning Description: RM-1