Brick Walk-Up Apartment
2633 WOODWARD AVE SW, Wyoming, MI 49509
For Sale
Contact for pricing
The two-story property is fully occupied and contains six residential units.
Property Size4,798 SF
Lot Size0.24 Acres
Price / SF$156.11
Days on Market16
Property Features for 2633 WOODWARD AVE SW
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Net Operating Income
Financials
Cap Rate
Gross Income
Average Monthly Rent
Additional Details
Multifamily Units
Tenant in Place
Building Details
Buildings
Stories
Construction
Listing Agency:
Pantheon Commercial, LLC
Listed By:
Aaron Eichenberg · License MI #6502430903
(312) 550-4889
Source:
Crexi
Added: Oct 30
Changed: Nov 10
Last Checked: Nov 12 at 8:25AM
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 Pantheon Commercial, LLC
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Investment Insights
Based on property information with market context.
This vintage brick apartment property contains six units across two stories. The walk-up building provides 4,798 square feet of gross area, or approximately 800 square feet per unit, on a 0.244-acre parcel. The property is fully occupied, with a 6.86% going-in cap rate based on in-place operations.
Located in Wyoming, Michigan, the building is identified as 2633 Woodward Ave SW. Its six-unit configuration, two-story layout, and brick construction define the property’s physical profile.
Located in Wyoming, Michigan, the building is identified as 2633 Woodward Ave SW. Its six-unit configuration, two-story layout, and brick construction define the property’s physical profile.
Key Highlights
- Six apartment units in a two‑story brick walk‑up
- 4,798 SF of gross building area; approximately 800 SF per unit
- 0.244‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,438
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$908,760
$908.8K
Cap Rate 7%
$649,114
$649.1K
Cap Rate 9%
$504,867
$504.9K
Market Conditions
NOI Build-Up for 4,798 SF
Gross rent
$87.5K $18.24/SF
− Vacancy
−$4.9K −$1.02/SF
EGI
$82.6K $17.22/SF
− OpEx
−$37.2K −$7.75/SF
NOI
$45.4K $9.47/SF
Area
Kent County, MI
Vacancy
5.60%
Lease Rate
$18.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$908,760
Cap Rate 7%
$649,114
Cap Rate 9%
$504,867
Alternative Uses
Best Use
Apartment 5plus
$649.1K
$568.0K – $757.3K
NOI $45,438 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$858.2K
$750.9K – $1.00M
NOI $60,071 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
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Business Placement
Demographics for 49509, MI
28,340
Population
10,611
Households
2.7
Avg Household Size
34
Median Age
19%
College-Educated
85%
High-School Grad
7.3 sq mi
ZIP Area
3,882
Density / Sq Mi
$64,981
Median Household Income
$38,356
Median Earnings
$983
Median Rent
$183,400
Median Home Value
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Market
Properties on Market for Apartment buildings in Kent County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - The two-story property is fully occupied and contains six residential units.
Where is this apartment building located?
The property is located at 2633 WOODWARD AVE SW Wyoming, MI.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Six apartment units in a two‑story brick walk‑up; 4,798 SF of gross building area; approximately 800 SF per unit; 0.244‑acre parcel
