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1525 Bacon Ave Portage, MI 49002

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For Sale
$4,495,000

Well-maintained apartment complex with renovation and development potential.

Lot size:
9.84 Acres

Property Features for 1525 Bacon Ave

General Information

Property type
Investment
Standard status
Active
Lot size
9.84 Acres

Building Details

Year built
1978

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Listing Contact
Shawn Jacobs
Source: Elliman

Listing Agency: MOXIE Real Estate + Development Listing Agent: Shawn Jacobs

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

Lakewood Apartments Investment Opportunity

Lakewood Apartments is a well-maintained property featuring an attractive unit mix, with a majority of the units already renovated. Substantial capital improvements have been made. There is potential for an additional revenue stream by implementing a RUBS/utility bill back program and renting storage lockers. Rents are below market value. The property sits on almost 10 acres, presenting a future development opportunity, with a possibility of incentives for future expansion. Lakewood Apartments represents an investment opportunity with upside potential.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Restaurant Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Accounting Firm Kitchen & Bath Showroom Department Store

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

Location Insight

  • Map
  • Local Demand
City
Portage
County
Kalamazoo
State
Michigan
Longitude
-85.570754
Latitude
42.173203

FAQs

What type of property is this?
Apartment building - Well-maintained apartment complex with renovation and development potential.
Where is this apartment building located?
The property is located at 1525 Bacon Ave Portage, MI.
What is the asking price?
The asking price for this property is $4,495,000.
What are key features of this property?
This property features: - Majority of units are already renovated, offering immediate appeal to tenants.; - Significant upside potential through below-market rents.; - Future development opportunity on almost 10 acres, potentially with incentives.
More about this property
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