3-Unit Residential Income
755 Portage Street Kalamazoo, MI 49001
For Sale
$309,000
COMMERCIAL - Kalamazoo, MI
Property Size4,000 SF
Lot Size0.10 Acres
Price / SF$77.25
Days on Market68
Property Features for 755 Portage Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Basement
- Parking
- 6
- Interior features
- Broadband
- Standard status
- Active
- APN
- 06-22-276-022
- Size
- 4,000 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Lot 22 of Millard addition
- Tax Annual Amount
- 2821
Utilities
- Utilities
- Cable Available
- Heating system
- Forced Air
Building Details
- Year built
- 1954
- Number of units
- 3
- Building materials
- Vinyl Siding
- Roof type
- Composition, Rubber
Listing Agency:
Keller Williams GR East
(616) 575-1800
Listed By:
Darryl A Matthews Jr · License #6506047703
(616) 881-9047
Added: May 20
Changed: Jul 25
Last Checked: Jul 26 at 7:06PM
MLS# 26023682
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3-unit residential income property totals 4,800 square feet and is set up to operate with multiple independently metered units. The building includes an 800-square-foot front apartment and a 2,000-square-foot rear unit, along with an additional income-producing unit. Updates reported include a new HVAC system, a new water heater, and 3-inch spray foam insulation to support energy efficiency. Off-street parking is provided, and the seller currently pays water, sewer, and garbage. Electric and gas are separately metered for the downstairs unit, and separate water metering is also noted for that area.
Located at 755 Portage Street in Kalamazoo, the sale also includes two additional lots, expanding what can be considered for future planning. Lot size is listed at 0.1 acres.
For investors or owner-operators seeking a manageable multi-unit setup, the property offers a clear, unit-by-unit configuration and documented utility metering. Current and reported rent figures include $1,775 per month potential for the upstairs unit and $875 per month for the smaller unit, which is currently rented. With the included additional lots and the recent building updates, the property may fit buyers looking for a ready-to-run cash-flowing structure alongside options to evaluate further development.
Located at 755 Portage Street in Kalamazoo, the sale also includes two additional lots, expanding what can be considered for future planning. Lot size is listed at 0.1 acres.
For investors or owner-operators seeking a manageable multi-unit setup, the property offers a clear, unit-by-unit configuration and documented utility metering. Current and reported rent figures include $1,775 per month potential for the upstairs unit and $875 per month for the smaller unit, which is currently rented. With the included additional lots and the recent building updates, the property may fit buyers looking for a ready-to-run cash-flowing structure alongside options to evaluate further development.
Key Highlights
- 3‑unit property with 4,800 sq ft total and off‑street parking, plus two additional lots included in the sale
- Unit mix: 800 sq ft front apartment and 2,000 sq ft rear unit, with an additional income‑producing unit
- Seller pays water, sewer, and garbage; electric and gas are separately metered for the downstairs unit and water is separately metered
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.0k | $9.00 |
| − Vacancy | −$2.4k | −$0.60 |
| EGI | $33.6k | $8.40 |
| − OpEx | −$10.1k | −$2.52 |
| NOI | $23.5k | $5.88 |
4,000 SF · lease $9.00/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$336.1K
$294.1K – $392.1K
NOI $23,524 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$308.7K
$270.1K – $360.1K
NOI $21,606 @ 7.0% cap · market cap 6.99%
Theoretical Best
Warehouse
$1.05M
$915.9K – $1.22M
NOI $73,270 @ 7.0% cap · market cap 23.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Turnkey three-unit building with off-street parking, separate utilities, and included additional lots for added options.
Where is this triplex located?
The property is located at 755 Portage Street Kalamazoo, MI.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: 3‑unit property with 4,800 sq ft total and off‑street parking, plus two additional lots included in the sale; Unit mix: 800 sq ft front apartment and 2,000 sq ft rear unit, with an additional income‑producing unit; Seller pays water, sewer, and garbage; electric and gas are separately metered for the downstairs unit and water is separately metered
