$4,650,000
Portage, MI 49002
MLS# 25012313
1 / 41
Property 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.
Details
Maps
Location Property Info
County: Kalamazoo
Street #: 1525
Street Name: Bacon
Suffix: Avenue
State: MI
Zip Code: 49002
Area: Greater Kalamazoo - K
OfficeContract Info
Status: Active
Current Price: $4,650,000
List Price: $4,650,000
Listing Date: 2025-03-27
General Property Info
Lot Measurement: Acres
Lot Square Footage: 428630
Lot Acres: 9.84
Lot Dimensions: 0x0
Year Built: 1978
New Construction: No
Cert of Compliance: No
Total # Units: 48
# of Diff Unit Floor Plans: 2
Total # Bldgs: 3
Total Parking Spaces: 72
Waterfront: No
School District: Portage
Tax Info
Tax ID #: 10-00027-197-O
Taxable Value: 1124600
SEV: 1124600
For Tax Year: 2024
Annual Property Tax: 76323.88
Tax Year: 2024
Spec Assessment & Ty: None
Zoning: RM-1
Remarks Misc
Directions: US 131 to D Ave, head South to Bacon Ave and West to Lakewood Apartments
Waterfront Options
Water Access Y/N: No
Access Feat
Accessibility Features: No
Unit 1
Unit Description: 1525-1
SqFt: 630
Occupied: Yes
Monthly Rent: 1000
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 2
Unit Description: 1525-2
SqFt: 567
Occupied: Yes
Monthly Rent: 950
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Property Features
Exterior Material: Wood Siding
Roofing: Composition
Substructure: Slab
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at Street: Broadband; Cable Available; Electricity Available; Natural Gas Available; Phone Available; Public Sewer; Public Water
Owner Pays: Gas; Trash Collection; Water
Tenant Pays: Electric
Heat Source: Natural Gas
Heat Type: Hot Water; Radiant
Terms Available: Cash; Conventional
Possession: Close Of Escrow
Sale Conditions: None
Listing Office: MOXIE Real Estate + Development
Listing Agent: Daniel Kolp
Last Updated: April - 01 - 2025
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
