8-Unit Apartment Building with
For Sale
$420,000
521 Pearl St, Kalamazoo, MI 49007
Basement laundry facilities and rear-lot parking serve residents of this established rental property.
Property Size3,526 SF
Price / SF$119.12
Days on Market11
Property Features for 521 Pearl St
General Information
Standard status
Active
Size
3,526 SF
Property subtype
Multi-Family
Building Details
Year Built
1924
Listing Agency:
Five Star Real Estate
Listed By:
Adam Atwood · License #6506047769
(269) 377-4589
Source:
Vmrealestatemichigan
Added: Oct 23
Changed: Nov 1
Last Checked: Nov 1 at 5:40AM
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 Five Star Real Estate
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Investment Insights
Based on property information with market context.
This 8-unit apartment building was constructed in 1924 and contains 3,526 square feet. On-site laundry facilities are located in the basement, and a parking area sits behind the building.
The property is located at 521 Pearl St in Kalamazoo, Michigan. Gross monthly rent is $6,350.
The property is located at 521 Pearl St in Kalamazoo, Michigan. Gross monthly rent is $6,350.
Key Highlights
- 8 apartments in a 3,526‑square‑foot building
- Built in 1924
- Basement laundry facilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,045
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,900
$380.9K
Cap Rate 7%
$272,071
$272.1K
Cap Rate 9%
$211,611
$211.6K
Market Conditions
NOI Build-Up for 3,526 SF
Gross rent
$37.2K $10.56/SF
− Vacancy
−$2.6K −$0.74/SF
EGI
$34.6K $9.82/SF
− OpEx
−$15.6K −$4.42/SF
NOI
$19.0K $5.40/SF
Area
Kalamazoo County, MI
Vacancy
7.00%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,900
Cap Rate 7%
$272,071
Cap Rate 9%
$211,611
Alternative Uses
Best Use
Apartment 5plus
$272.1K
$238.1K – $317.4K
NOI $19,045 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$922.7K
$807.4K – $1.08M
NOI $64,588 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,806
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Basement laundry facilities and rear-lot parking serve residents of this established rental property.
Where is this apartment building located?
The property is located at 521 Pearl St Kalamazoo, MI.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 8 apartments in a 3,526‑square‑foot building; Built in 1924; Basement laundry facilities
