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    Kalamazoo Multi-Unit Investment Opportunity Title is generated by Realmo AI

    122 Brookview Street, Kalamazoo, MI 49048

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    For Sale
    $236,500

    MULTI_FAMILY - Kalamazoo, MI

    Lot size:
    0.29 Acres
    Added:
    Jan 9, 2026
    Days on Market:
    129
    Last Refresh:
    May 18 at 6:06 pm

    Property Features for 122 Brookview Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Rooms
    Basement, Bathroom 3, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1
    Parking
    3
    Parking features
    Driveway
    Basement
    Full
    Standard status
    Active
    APN
    0720105180
    Lot size
    0.29 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    SEC 20-2-10 BEG 150 FT W & 186 FT S OF NW COR OF LOT 20 OF RECORDED PLAT BROOK SIDE PARK TH N 56 FT TH W 263.97 FT TO WLY BANK COMSTOCK CREEK TH SELY ALG WLY BANK SD CREEK TO A PT 192.9 FT W OF BEG TH E 192.9 TO BEG .29 A
    Tax Annual Amount
    2105

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water front features
    Creek
    Water front
    1

    Building Details

    Year built
    1930
    Number of units
    3
    Building materials
    Block
    Roof type
    Composition

    We can help!

    Listing Contact
    Melissa Perrine
    Melissa Perrine

    Listing agent Melissa Perrine License #6501438820

    Listing office Bellabay Realty (North) 4653 Plainfield Ave NE Ste A, Wyoming, MI

    Listing date Jan 9, 2026

    MLS# 26001181 Listing URL

    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.

    HighLights

    • 2.75% assumable mortgage
    • Turnkey, income‑producing three‑unit rental property
    • Backs directly onto Comstock Creek
    • Two units currently leased, one unit available
    • Recent renovations including new roof (2017), exterior paint (2019), and new furnace (2019)
    • Spacious lot with generous backyard and storage shed

    Overview

    This well-maintained three-unit rental property in Kalamazoo presents an investment opportunity with immediate cash flow. The property features a 2.75% assumable mortgage. Each unit includes one bedroom, one bathroom, a kitchen, and a living area. Renovations have been completed within the past few years. Major updates include a new roof in 2017, exterior paint in 2019, and a new furnace in 2019. The property is situated on a 0.29-acre lot with a spacious backyard that backs onto Comstock Creek. Additional features include a storage shed and ample outdoor space for tenants. Two units are currently leased, and one unit is available, providing flexibility for an owner-occupant or the ability to place a new tenant at market rent. Located along Comstock Creek, this property offers a unique natural setting.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.510267
    Latitude
    42.287349

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    FAQs

    What type of property is this?
    Triplex - Turnkey three-unit property with assumable mortgage and Comstock Creek access.
    Where is this triplex located?
    The property is located at 122 Brookview Street Kalamazoo, MI.
    What is the asking price?
    The asking price for this property is $236,500.
    What are key features of this property?
    This property features: 2.75% assumable mortgage; Turnkey, income‑producing three‑unit rental property; Backs directly onto Comstock Creek
    (616) 328-7029
    We can help!
    Listing Contact
    Melissa Perrine
    Melissa Perrine
    Real Estate License ID: 6501438820
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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