Renovated Triplex with
For Sale
$319,900
127 Elm St, Kalamazoo, MI 49007
Three-unit property with updated systems, off-street parking, and access to nearby colleges, downtown amenities, and public transportation.
Property Size4,270 SF
Price / SF$74.92
Days on Market107
Property Features for 127 Elm St
General Information
Standard status
Active
Size
4,270 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Year Built
1868
Buildings
1
Listing Agency:
Century 21 Affiliated (GR)
Listed By:
Justin M Rinks · License #6501420063
(616) 350-5643
Source:
Findmichiganhomelistings
Added: Jul 19
Changed: Nov 1
Last Checked: Nov 1 at 6:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Affiliated (GR)
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Investment Insights
Based on property information with market context.
This 4,270-square-foot triplex contains three separate apartments: a remodeled main-floor residence configured for two or three bedrooms, a two-bedroom upper unit, and an upstairs studio efficiency. Building improvements include three newer furnaces, upgraded electrical service, modernized wiring, and plumbing updates. The property was built in 1868 and includes a large lot with extensive off-street parking and a shared entry driveway.
The property is situated in Kalamazoo’s Stuart Neighborhood, near WMU, Kalamazoo College, downtown, bus routes, restaurants, and neighborhood shops. The unit mix combines a larger main-floor apartment with two distinct upstairs layouts, providing varied residential accommodations within one multifamily asset.
The property is situated in Kalamazoo’s Stuart Neighborhood, near WMU, Kalamazoo College, downtown, bus routes, restaurants, and neighborhood shops. The unit mix combines a larger main-floor apartment with two distinct upstairs layouts, providing varied residential accommodations within one multifamily asset.
Key Highlights
- 4,270‑square‑foot triplex with three separate apartments
- Unit mix includes a two- or three‑bedroom main‑floor unit, two‑bedroom upper unit, and studio efficiency
- Remodeled main‑floor apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,112
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$502,240
$502.2K
Cap Rate 7%
$358,743
$358.7K
Cap Rate 9%
$279,022
$279.0K
Market Conditions
NOI Build-Up for 4,270 SF
Gross rent
$38.4K $9.00/SF
− Vacancy
−$2.6K −$0.60/SF
EGI
$35.9K $8.40/SF
− OpEx
−$10.8K −$2.52/SF
NOI
$25.1K $5.88/SF
Area
Kalamazoo County, MI
Vacancy
6.65%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$502,240
Cap Rate 7%
$358,743
Cap Rate 9%
$279,022
Alternative Uses
Best Use
Multifamily LT 5
$358.7K
$313.9K – $418.5K
NOI $25,112 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$329.5K
$288.3K – $384.4K
NOI $23,064 @ 7.0% cap · market cap 7.21%
Theoretical Best
Warehouse
$1.12M
$977.7K – $1.30M
NOI $78,216 @ 7.0% cap · market cap 24.45%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,338
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with updated systems, off-street parking, and access to nearby colleges, downtown amenities, and public transportation.
Where is this triplex located?
The property is located at 127 Elm St Kalamazoo, MI.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: 4,270‑square‑foot triplex with three separate apartments; Unit mix includes a two- or three‑bedroom main‑floor unit, two‑bedroom upper unit, and studio efficiency; Remodeled main‑floor apartment
