All-Brick Multifamily Apartment
2907 S Burdick Street Kalamazoo, MI 49001
2907 S Burdick Street, Kalamazoo, MI, 49001
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For Sale
Contact for pricing
33-unit all-brick multifamily property with separate 25-unit and 8-unit buildings and recently completed capital improvements.
Property Size36,000 SF
Price / SF$80.56
Days on Market83
Property Features for 2907 S Burdick Street
General Information
- Standard status
- Active
- Size
- 36,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1964
Listing agency
MOXIE
Listed by
Shawn Jacobs · License #MI 6501370018
Source
Crexi
Added: Apr 30 Updated: Jul 20 at 7:33PM Checked: Jul 20 at 7:33PM
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 MOXIE
Investment Insights
Based on property information with market context.
Ridgewood Apartments is a well-maintained all-brick multifamily property offering 33 total units in two buildings: a 25-unit building and an 8-unit building. The property includes multiple recent capital improvements, including new boilers, unit renovations, and hot water (HW) heaters.
The sale also includes two additional parcels of land. With proper city approvals, the additional land may allow for expansion opportunities such as adding units or parking.
The property presents an apartment-income configuration supported by the existing unit mix and completed mechanical and interior improvements.
The sale also includes two additional parcels of land. With proper city approvals, the additional land may allow for expansion opportunities such as adding units or parking.
The property presents an apartment-income configuration supported by the existing unit mix and completed mechanical and interior improvements.
Key Highlights
- All‑brick 33‑unit multifamily property built in 1964 with two separate buildings: 25 units and 8 units
- Unit mix includes 25‑unit and 8‑unit building configurations
- Capital improvements include new boilers, unit renovations, and hot water (HW) heaters
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $380.2k | $10.56 |
| − Vacancy | −$26.6k | −$0.74 |
| EGI | $353.5k | $9.82 |
| − OpEx | −$159.1k | −$4.42 |
| NOI | $194.5k | $5.40 |
36,000 SF · lease $10.56/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.78M
$2.43M – $3.24M
NOI $194,452 @ 7.0% cap · market cap 6.71%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$9.42M
$8.24M – $10.99M
NOI $659,432 @ 7.0% cap · market cap 22.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
1031 exchange properties
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 33-unit all-brick multifamily property with separate 25-unit and 8-unit buildings and recently completed capital improvements.
Where is this apartment building located?
The property is located at 2907 S Burdick Street Kalamazoo, MI.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: All‑brick 33‑unit multifamily property built in 1964 with two separate buildings: 25 units and 8 units; Unit mix includes 25‑unit and 8‑unit building configurations; Capital improvements include new boilers, unit renovations, and hot water (HW) heaters
