Two Mansion Multifamily with Carriage
316 Stuart Avenue Kalamazoo, MI 49007
316 Stuart Avenue, Kalamazoo, MI, 49007
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For Sale
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18-unit multifamily formed by two contiguous historic mansions, with a carriage house, porches, off-street parking, and laundry.
Property Size9,276 SF
Price / SF$107.81
Days on Market91
Property Features for 316 Stuart Avenue
General Information
- Standard status
- Active
- Size
- 9,276 SF
- Property subtype
- Multifamily
Listing agency
O'Brien Real Estate
(269) 381-6470
Listed by
Pat O'Brien · License #MI 6502102326
Source
Crexi
Added: Apr 23 Updated: Jul 21 at 1:04PM Checked: Jul 21 at 1:04PM
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 O'Brien Real Estate
Investment Insights
Based on property information with market context.
This property is a 18-unit income opportunity consisting of two contiguous historic mansions. The offering includes many recently remodeled apartments and a large carriage house, along with notable front porches. On-site amenities include laundry, and the property provides lots of off-street parking.
The location is described as close to campus and within walking distance to downtown Kalamazoo, Kalamazoo College, and nearby entertainment, restaurants, and bars, with a future arena also referenced in the remarks.
The location is described as close to campus and within walking distance to downtown Kalamazoo, Kalamazoo College, and nearby entertainment, restaurants, and bars, with a future arena also referenced in the remarks.
Key Highlights
- 18‑unit multifamily formed by two contiguous historic mansions
- Many apartments recently remodeled
- Includes a large carriage house
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 | $98.0k | $10.56 |
| − Vacancy | −$6.9k | −$0.74 |
| EGI | $91.1k | $9.82 |
| − OpEx | −$41.0k | −$4.42 |
| NOI | $50.1k | $5.40 |
9,276 SF · lease $10.56/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$715.8K
$626.3K – $835.1K
NOI $50,104 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.43M
$2.12M – $2.83M
NOI $169,914 @ 7.0% cap · market cap 16.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 18-unit multifamily formed by two contiguous historic mansions, with a carriage house, porches, off-street parking, and laundry.
Where is this apartment building located?
The property is located at 316 Stuart Avenue Kalamazoo, MI.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 18‑unit multifamily formed by two contiguous historic mansions; Many apartments recently remodeled; Includes a large carriage house
