Listing Agency: NAI Wisinski of West Michigan - Kalamazoo k***@naiwwm.com Show Phone

Listed By: Kara Schroer, CCIM · License #MI 6501373674

Source: Crexi

Added: Apr 11 Changed: Aug 8 Last Checked: Aug 21 at 12:59PM

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Investment Insights

Based on property information with market context.

This fully occupied historic 1890s quadplex has been updated and rebuilt on a new foundation. The property was completely updated about eight years ago, with new mechanical, plumbing, and electrical systems, plus a French drain with sump (the basement has remained dry). The roof is approximately seven years old, and refrigerators were replaced one year ago. On-site amenities include coin-op washer/dryer and storage units in the basement.

A paved lot rated for parking up to 10 cars supports the building in the downtown Galesburg area. Professional management is in place, and the landlord pays cable and internet. The offering is presented with a stated 7.14% cap rate, and expenses are approximately $950 per month. 2022 financials and lease information are available for review upon signed NDA.

Key Highlights

• Fully occupied 1890s historic quad plex with a 7.14% cap rate
• Completely updated about 8 years ago with new mechanicals, plumbing, and electrical
• French drain with sump; basement reported as always dry

Property Analytics

Property Profile

Current Use

Quadplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Dental Office HVAC Service Hair Salon

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

161

Businesses Nearby

Explore this area Business Placement

Demographics for 49053, MI

7,371

Population

2,919

Households

2.5

Avg Household Size

39

Median Age

31%

College-Educated

95%

High-School Grad

24.4 sq mi

ZIP Area

302

Density / Sq Mi

$80,074

Median Household Income

$47,870

Median Earnings

$970

Median Rent

$222,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Fully occupied historic quadplex with coin-op laundry, basement storage, and a paved lot for 10 cars.

Where is this quadplex located?

The property is located at 190 Blake Blvd Galesburg, MI.

What are key features of this property?

This property features: Fully occupied 1890s historic quad plex with a 7.14% cap rate; Completely updated about 8 years ago with new mechanicals, plumbing, and electrical; French drain with sump; basement reported as always dry