Building Details

Year Built 1885

Units 5

Listing Agency: Five Star Real Estate k***@keeferfischerteam.com Show Phone

Listed By: Kerry L Keefer Fischer · License #6501367416 Show Phone

Source: Elliman

Added: Apr 24 Changed: Aug 8 Last Checked: Aug 23 at 8:47AM

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Investment Insights

Based on property information with market context.

This historic multi-unit property in Kalamazoo offers five rental units with income potential. The main floor contains two one-bedroom apartments, while the second level features another one-bedroom unit and a studio. The third story showcases a spacious two-bedroom apartment. Some apartments feature refreshed kitchens and bathrooms, and hardwood floors. Historic details remain intact throughout the property, including original trim and an ornately crafted staircase railing. The property includes ample off-street parking and its original carriage house. Located blocks from local college campuses and the downtown scene, this location is suitable for attracting long-term tenants. This property is a chance to own a Kalamazoo classic with rental potential.

Key Highlights

• Five rental units offer strong income potential.
• Prime location near college campuses and downtown Kalamazoo.
• Ample off‑street parking available.

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick Auto Parts Store (Bike/Boat/Book/etc) Store Florist Locksmith Acupuncture Pet Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,338

Businesses Nearby

Explore this area Business Placement

Demographics for 49007, MI

10,353

Population

5,102

Households

2

Avg Household Size

31

Median Age

24%

College-Educated

84%

High-School Grad

3.5 sq mi

ZIP Area

2,958

Density / Sq Mi

$39,309

Median Household Income

$24,723

Median Earnings

$1,017

Median Rent

$103,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - Historic 5-unit property near colleges and downtown Kalamazoo.

Where is this apartment building located?

The property is located at 232 Woodward Ave Kalamazoo, MI.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: Five rental units offer strong income potential.; Prime location near college campuses and downtown Kalamazoo.; Ample off‑street parking available.